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Can an NRI from Canada invest in mutual funds in India?

As of December 2016, eight Indian fund houses were accepting investments from US/Canada-based NRIs

Can a NRI residing in Canada invest in Indian mutual funds?
-Arun

Most of the Indian mutual fund houses have stopped accepting funds from US and Canada based NRIs due to regulatory restrictions. This is because the Foreign Account Tax Compliance Act (FATCA) makes it compulsory for all financial institutions in the world to report comprehensive details of all transactions involving US/Canada residents, (including non-resident Indians) to the US & Canada Government.

As of December 2016, the following fund houses were accepting investments from NRIs based in US and Canada :
Birla Sun Life Mutual Fund
SBI Mutual Fund
UTI Mutual Fund
ICICI Prudential Mutual Fund
DHFL Pramerica Mutual Fund
L&T Mutual Fund
PPFAS Mutual Fund
Sundaram Mutual Fund

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