Yes, NRI can now invest in NPS or National Pension Scheme in India. Recently, on July 2015, PFRDA, the Pension regular has clarified that Non Resident Indians (NRIs) can invest in National Pension Scheme (NPS) to save for their retirement and get a social security cover. Earlier, there was some confusion whether NRIs are allowed to put money on NPS or not, but given that NRIs are allowed to invest in mutual fund and insurance, RBI and PFRDA give clarification that NPS is also an eligible investment for NRIs.
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Recently one of my readers asked me that he wants to invest some money on NRE fixed deposits but confused on whether to go for foreign banks like Citibank, DBS, Standard Chartered, Deutsche Bank or Indian banks like ICICI, Kotak, HDFC, SBI, Axis Bank or Union Bank? I asked him, whether he has any existing NRE saving account , he says he doesn't have any existing NRE saving account? Then I ask him what is more important for you? the interest rate or convenience? and his answer was the interest rate. Read more »
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