NRI Investments in India: Frequently Asked Questions

You have one Indian bank account, a stack of half-remembered rules, and a dozen open tabs from Reddit and Quora. Investing in India as an NRI is not complicated once you know which rule applies to which account and which asset. It gets confusing because the rules for a mutual fund, a rented-out flat and an inherited farm are all different. This page answers the FAQs NRIs search for most, grouped by topic: KYC, bank accounts, tax, mutual funds, stocks, PMS, real estate, agricultural land, gold, PPF, NPS, fixed deposits, legal and inheritance matters, RBI/FEMA compliance, and repatriation.

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KYC for NRIs

Getting your KYC (Know Your Customer) right the first time saves weeks of back-and-forth with fund houses later.

What is KYC for NRIs investing in India?

KYC is the identity and address verification every investor must complete before investing in Indian securities. For NRIs, it includes an Indian PAN, your overseas address proof, and an in-person or video verification step, checked once and reused across fund houses via CDSL Ventures Limited (CVL).

What documents do NRIs need for KYC?

Most fund houses ask for the same core set of documents, self-attested and, where in a foreign script, translated into English.

• PAN card copy
• KYC form with a recent passport-size photo
• Passport copy (first two and last two pages)
• Overseas address proof (utility bill, driving licence, or residence permit)
• Indian address proof, if you have one (Aadhaar, bank statement, utility bill)
• A cancelled cheque from your NRE, NRO or FCNR account
• Overseas tax identification number (for FATCA/CRS reporting)

Can NRIs complete KYC without visiting India?

Yes, with Scripbox you can complete the process digitally with scanned documents, a video for in-person verification, and digital signatures. You do not need to travel to India solely to complete KYC.

Why do some fund houses restrict NRIs from the USA and Canada?

Stricter regulatory paperwork under US and Canadian securities law raises compliance costs for Indian fund houses, so several choose not to accept new NRI investors from these countries. A handful, including some of the larger AMCs, still do – check with each fund house before applying.

How long does NRI KYC approval take, and how do I check status?

Approval typically takes up to 2 to 5 working days. You can check your KYC status any time on the CVL or CAMS website using your PAN.

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Bank Accounts: NRE, NRO and FCNR

Every other rule on this page – tax, repatriation, investment eligibility – depends on which account your money sits in. Get this right first.

What is the difference between NRE, NRO and FCNR accounts?

Feature	NRE account	NRO account	FCNR account
Holds	Foreign income remitted to India	India-sourced income (rent, dividends, pension)	Foreign currency fixed deposits
Currency	Indian rupees	Indian rupees	Foreign currency
Repatriation	Fully repatriable, no cap	Capped at USD 1 million/financial year	Fully repatriable, no cap
Interest tax in India	Tax-free	Taxable, TDS deducted	Tax-free

Use this table to decide where new income should land: foreign earnings you may want back abroad belong in NRE or FCNR; Indian income like rent or dividends must go into NRO.

Which account should I use to invest in India?

Fund your investments from an NRE account if you want full, uncapped repatriation of both your capital and gains later. Use an NRO account for India-sourced income, or if repatriation is not an immediate priority – the USD 1 million annual cap is generous for most retail portfolios.

Is interest earned on NRE accounts taxable in India?

No. NRE savings and fixed deposit interest is fully exempt from Indian income tax. This is one of the few tax-free income streams available to NRIs in India, which is why many route salary and other foreign income through NRE accounts.

Can an NRI keep a regular resident savings account?

No. The moment your residential status changes to NRI, you must inform your bank and convert your existing resident savings account into an NRO account. Operating a resident account after becoming an NRI is a FEMA violation, even if unintentional.

How much can I transfer from my NRO account to my NRE account?

Up to USD 1 million per financial year, after paying applicable taxes and with a Chartered Accountant’s certificate (Form 146) confirming this. This transfer uses the same annual limit as direct overseas repatriation from NRO.

Can an NRI hold a joint account with a resident Indian relative?

Yes, an NRE or NRO account can be held jointly with a resident close relative on a “former or survivor” basis, though the resident joint holder generally cannot operate the account independently while both are alive.

Does an NRE account need renewal or reclassification?

No, but if you return to India permanently, you must convert your NRE and FCNR accounts into resident accounts. Continuing to hold NRE/NRO accounts after your status changes back to resident is also a compliance lapse.

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Taxation for NRIs

Tax is deducted at source on almost every payment to an NRI – regardless of your actual annual income.

Do NRIs pay tax in India on their investments?

Yes, on income earned or accrued in India: capital gains, rental income, interest (except NRE/FCNR interest), and dividends. Income earned and received entirely outside India is not taxed in India, only in your country of residence.

What is the basic tax exemption limit for NRIs?

Under the new tax regime for FY 2025–26, the basic exemption limit is ₹4 lakh. Unlike resident taxpayers, NRIs cannot claim the Section 87A rebate that brings resident tax liability to zero up to ₹12 lakh – NRIs pay tax from the first rupee above ₹4 lakh.

What is TDS, and why is it deducted on almost everything?

TDS (Tax Deducted at Source) is tax withheld by the payer – a bank, fund house, buyer or tenant – before money reaches you, under Section 195. It applies regardless of your actual tax liability for the year, which is why NRIs often end up over-taxed at source and need to claim a refund.

What are the capital gains tax rates for NRIs?

Asset type	Holding period	Tax rate
Equity mutual funds/shares	Over 12 months (LTCG)	12.5% above ₹1.25 lakh/year
Equity mutual funds/shares	Up to 12 months (STCG)	20%, flat
Debt mutual funds	Any period	Your income tax slab rate
Immovable property	Over 24 months (LTCG)	12.5%, no indexation
Immovable property	Up to 24 months (STCG)	Your income tax slab rate

TDS on property sales and equity redemptions is usually deducted on the full sale value or gain upfront – filing a return is how you claim back any excess.

How does DTAA help NRIs avoid double taxation?

A Double Taxation Avoidance Agreement (DTAA) between India and your country of residence can lower TDS, mainly on dividend income, to the treaty rate instead of the default domestic rate. To claim it, submit a Tax Residency Certificate, Form 10F, and your Indian PAN to the payer.

Do NRIs need to file an income tax return in India?

Yes, if your Indian income exceeds ₹4 lakh, or if you want to claim a refund of excess TDS. The usual due date is 31 July, unless extended or your accounts require an audit.

What is Form 145/146, and when do I need it?

From 1 April 2026, Form 15CA and Form 15CB were replaced by Form 145 (self-declaration) and Form 146 (Chartered Accountant certificate of tax paid) under the Income-tax Act, 2025. Form 146 is compulsory only when a remittance exceeds ₹5 lakh in a financial year.

Can NRIs apply for lower or nil TDS?

Yes, under Section 197, using Form 13 on the TRACES portal. This helps when your actual tax liability is lower than the standard TDS rate – for instance, if your Indian income sits below the exemption limit, or you have carried-forward losses. The certificate is valid for one financial year only.

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Mutual Funds

Can NRIs invest in Indian mutual funds?

Yes, NRIs from almost every country can invest in Indian mutual funds through an NRE or NRO account, subject to KYC and FATCA/CRS declarations. It remains one of the simplest ways for NRIs to build a diversified Indian portfolio without RBI-specific approvals.

Can NRIs set up a SIP from abroad?

Yes. Once your NRE or NRO account and KYC are in place, you can set up a recurring SIP mandate the same way a resident investor would, debited automatically each month.

How are mutual fund gains taxed for NRIs?

Equity fund gains held over 12 months are taxed at 12.5% above ₹1.25 lakh a year; under 12 months, at 20% flat. Debt fund gains are taxed at your slab rate regardless of holding period. TDS is deducted at redemption before proceeds reach your account. Read our detailed guide on NRI mutual fund taxation in India.

Should I invest through my NRE or NRO account?

Route the investment through whichever account funds it. NRE-funded units are repatriable in full on redemption; NRO-funded units follow the USD 1 million annual repatriation cap. If uncapped future repatriation matters to you, invest through NRE.

How can Scripbox help NRIs invest in mutual funds?

Scripbox lets NRIs invest in Scripbox-recommended mutual funds through an NRE or NRO account, with consolidated capital gains and TDS statements at redemption to simplify return filing. Explore Scripbox’s mutual fund options for NRIs.

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Stocks and Demat Accounts (PIS)

Can NRIs trade in the Indian stock market?

Yes, through a Portfolio Investment Scheme (PIS) account linked to an NRE or NRO bank account, plus an NRI demat and trading account. Delivery-based equity investing is the default and most accessible route.

What is the Portfolio Investment Scheme (PIS)?

PIS is the RBI-regulated route through which NRIs buy and sell listed Indian shares on a repatriable (NRE-funded) or non-repatriable (NRO-funded) basis. Your Authorised Dealer bank issues a PIS permission letter once your application is approved, and you are restricted to one designated bank branch for all PIS activity.

Can NRIs do intraday trading or short selling?

No. NRIs must trade equity on a delivery basis only – buying and taking actual delivery of shares, or selling shares already held. Intraday trades, short selling, and Buy-Today-Sell-Tomorrow (BTST) trades are not permitted.

Can NRIs trade futures and options (F&O)?

Yes, but only through a separate NRO Non-PIS account, with a custodian appointed to clear trades and a Custodian Participant (CP) code assigned. You must maintain cash margins – securities cannot be pledged – and any intraday F&O position must be squared off the same day.

What is the difference between repatriable and non-repatriable stock investment?

Shares bought with NRE funds are repatriable – sale proceeds, after tax, can move abroad without a separate cap. Shares bought with NRO funds are non-repatriable in the same free sense; proceeds follow the standard USD 1 million per financial year NRO limit.

Is there a cap on how much of a company NRIs can own?

Yes. Under RBI’s PIS framework, an individual NRI/OCI investor can hold up to 5% of a listed company’s paid-up capital, and the combined holding of all NRI investors in that company is capped at 10%, though a company’s board and shareholders can raise this ceiling up to the sector’s foreign investment limit.

How are stock market gains taxed for NRIs?

The same equity capital gains rates apply as for mutual funds: 12.5% above ₹1.25 lakh a year for holdings over 12 months, and 20% flat for holdings under 12 months, with TDS deducted at source by your broker/bank under Section 195.

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Portfolio Management Services (PMS)

Can NRIs invest in Portfolio Management Services (PMS) in India?

Yes. NRIs can access PMS the same way resident investors do, provided investments route through an NRE or NRO account and comply with FEMA and SEBI documentation requirements, including PAN and passport copies.

What is the minimum investment for PMS?

SEBI mandates a minimum investment of ₹50 lakh for any PMS account, applied equally to resident and NRI investors. This makes PMS a product for larger, more concentrated portfolios rather than a starting point for new investors.

Which account should NRIs use for PMS?

Use NRE funding if you want full repatriation flexibility on exit; use NRO if the money is India-sourced or repatriation is not an immediate priority. The PMS provider will typically ask you to confirm this upfront, as it affects how exit proceeds are credited.

Are PMS returns taxed differently from mutual funds for NRIs?

No. PMS holds direct equity or debt securities on your behalf, so the same capital gains rates that apply to direct stock and mutual fund holdings apply here too. 

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Real Estate

Can NRIs buy property in India?

Yes. NRIs and OCIs can freely buy residential and commercial property in India, with no RBI approval needed and no cap on the number of properties. Payment must route through normal banking channels – an NRE, NRO or FCNR account, or an NRI home loan from an Indian bank.

Can NRIs get a home loan in India?

Yes, most Indian banks offer NRI home loans, usually up to 75–80% of the property’s value. EMIs must be paid from your NRE/NRO account, or from rental income the property generates – not through informal remittance channels.

How is rental income from Indian property taxed for NRIs?

Rental income is taxed at your applicable slab rate, after standard deductions. Your tenant must deduct TDS at 31.2% (30% plus 4% cess) under Section 195 before paying rent, regardless of the rent amount – there is no minimum threshold for this deduction.

Tenants must deduct TDS on rent paid to an NRI landlord, however small the monthly rent.

Can NRIs reduce the TDS deducted on rental income?

Yes, by applying for a lower or nil TDS certificate under Section 197, if your actual tax liability is lower than 31.2% of the gross rent – for instance, after available deductions and if your total Indian income is modest.

Can NRIs sell property in India?

Yes, subject to the same capital gains tax rules as any resident seller: 12.5% LTCG (no indexation) if held over 24 months, or slab-rate STCG if held under 24 months. The buyer must deduct TDS on the sale, and NRIs commonly apply for a lower TDS certificate in advance to avoid over-deduction on the full sale value.

Can NRIs repatriate property sale proceeds abroad?

Yes, up to USD 1 million per financial year through the NRO route, after taxes and with Form 145/146 documentation. If the property was originally bought using foreign exchange remitted to India or NRE/FCNR funds, up to two residential properties’ sale proceeds may qualify for repatriation without being counted against other NRO limits, subject to RBI conditions.

Do NRIs need RBI permission for every property purchase?

No. Residential and commercial property purchases fall under the automatic route – no case-by-case RBI approval is required. Approval only becomes relevant for the restricted categories, such as agricultural land, which NRIs cannot buy at all rather than needing permission for.

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Agricultural Land, Plantations and Farmhouses

NRIs cannot buy agricultural land, plantation property or farmhouses in India – not with RBI permission, not under any scheme.

Can NRIs buy agricultural land in India?

No. FEMA prohibits NRIs and OCIs from directly purchasing agricultural land, plantation property, or farmhouses, to protect local farmland from speculative buying. This restriction has no permission-based exception – it is a straightforward ban on new purchases.

Can NRIs inherit agricultural land?

Yes. An NRI can inherit agricultural land through a will or standard succession law, from a person who held it lawfully as a resident Indian. Inheritance is treated differently from direct purchase and remains fully permitted.

Can NRIs receive agricultural land as a gift?

Only from a resident Indian relative – parents, siblings, spouse, children, or grandparents/grandchildren, as defined under FEMA. An NRI cannot gift agricultural land to another NRI, and cannot receive it as a gift from a non-relative.

Can NRIs sell agricultural land they have inherited?

Yes, but only to a resident Indian citizen. NRIs cannot sell inherited agricultural land to another NRI or OCI, which limits the buyer pool and can affect how quickly you find a buyer.

Is there tax on selling inherited agricultural land?

Rural agricultural land, as defined under the Income Tax Act, is not treated as a capital asset, so its sale attracts no capital gains tax. Urban agricultural land is a capital asset, taxed like any other property: 12.5% LTCG without indexation, if held over 24 months.

What if I already owned agricultural land before becoming an NRI?

You can continue holding it. The restriction applies to new purchases after acquiring NRI status, not to land you legitimately owned while still a resident. You can retain, lease out (where locally permitted), or eventually sell it to a resident Indian buyer.

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Gold

Can NRIs invest in gold in India?

Yes, through gold ETFs, gold mutual funds, or physical gold bought through normal banking channels. 

Can NRIs buy new Sovereign Gold Bonds (SGBs)?

Not currently. The Government of India has issued no new SGB tranches since February 2024, and as of 2026, no issuance calendar has been announced for any investor, resident or NRI. NRIs were, in any case, not eligible to subscribe as primary investors under the original scheme rules.

What happens to SGBs an NRI already holds?

If you bought SGBs while you were a resident and later became an NRI, you can continue holding them until maturity. Interest keeps accruing at the applicable rate, and premature redemption windows remain open after five years from issue, through the RBI’s redemption process.

Can NRIs invest in gold ETFs or gold mutual funds?

Yes, these are open-ended products bought and sold like any other mutual fund unit, through your NRE or NRO account, with no SGB-style eligibility restriction. They are now the closest liquid substitute to SGBs for NRIs wanting gold exposure.

Is gold investment income taxable for NRIs?

Yes. Gains on gold ETFs, gold mutual funds and physical gold attract capital gains tax at – 12.5% LTCG without indexation if held over 24 months, or at your slab rate if held for less. SGB interest is taxable at your slab rate, though capital gains at maturity for the original subscriber are exempt.

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Public Provident Fund (PPF)

Can NRIs open a new PPF account?

No. NRIs cannot open new PPF accounts. This restriction has stood for years and applies regardless of how the account is funded.

What happens to an existing PPF account when I become an NRI?

You can continue contributing until the account completes its original 15-year term, using funds from your NRE, NRO or FCNR account. You cannot extend the account beyond that 15-year term as an NRI, even though resident account holders can extend in blocks of five years.

Is PPF interest taxable for NRIs?

No, PPF interest remains tax-free in India for NRIs, the same as for residents. If you file taxes in another country, such as the USA, you may still need to report this interest there under that country’s rules.

What happens to a PPF account at maturity for an NRI?

The account must close at the end of its 15-year term. Proceeds transfer to your NRO account, from where they are repatriable under the standard USD 1 million per financial year limit.

What changed for NRI PPF accounts in 2024?

From 1 October 2024, accounts that had been irregularly extended beyond their original term stopped earning the regular PPF interest rate, dropping instead to a much lower rate (around 4%) applicable to the Post Office Savings Account. This makes timely closure at the 15-year mark important for NRI account holders.

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National Pension System (NPS)

Can NRIs invest in the National Pension System (NPS)?

Yes. NRIs aged 18 to 70 can open an NPS account, funded through an NRE or NRO account, subject to standard KYC and a valid PAN.

Can OCIs invest in NPS?

Yes, OCIs are eligible to open NPS accounts on par with NRIs, following a change in eligibility rules that extended access beyond Indian passport holders alone.

What is the difference between NPS Tier I and Tier II for NRIs?

Tier I is the core retirement account, with a minimum ₹500 contribution and withdrawal restrictions until retirement age. Tier II is an optional, more flexible account, available only once you already hold a Tier I account, with no lock-in and a ₹250 minimum contribution.

What are the tax benefits of NPS for NRIs?

NRIs can claim deductions up to ₹1.5 lakh under Section 80C and an additional ₹50,000 under Section 80CCD(1B), for combined tax relief of up to ₹2 lakh a year against Indian taxable income. This is only applicable if you are filing taxes as per the old income tax regime. No tax benefits can be claimed if you follow the new tax regime. 

Can NRIs withdraw and repatriate their NPS corpus?

Yes. At age 60 or above, up to 60% of the corpus can be withdrawn as a tax-free lump sum, with the remaining minimum 40% used to buy an annuity. Exiting before 60 caps the lump sum withdrawal at 20%, with at least 80% annuitised. NRE-funded corpus is freely repatriable; NRO-funded corpus follows the USD 1 million annual limit.

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Fixed Deposits

Can NRIs open fixed deposits in India?

Yes, through three distinct FD types: NRE FD, NRO FD, and FCNR FD, each with different repatriation and tax treatment.

What is the difference between NRE FD, NRO FD and FCNR FD?

FD type	Currency	Interest taxable in India?	Repatriation
NRE FD	Indian rupees	No	Fully repatriable
NRO FD	Indian rupees	Yes, TDS deducted	Capped at USD 1 million/year
FCNR FD	Foreign currency	No	Fully repatriable

Choose NRE or FCNR if you expect to move the funds abroad later without restriction; choose NRO only for India-sourced income you plan to keep or spend domestically.

Is interest on NRE fixed deposits taxable?

No, NRE FD interest is exempt from Indian income tax, similar to NRE savings account interest. This tax-free status is a major reason NRIs prefer NRE FDs for parking foreign earnings.

Is TDS deducted on NRO fixed deposit interest?

Yes. Banks deduct TDS at 30% (plus applicable surcharge and cess) on NRO FD interest, before crediting it to your account. You can apply for a lower rate under a DTAA, by submitting a Tax Residency Certificate and Form 10F to your bank.

Which FD should NRIs choose if repatriation matters most?

NRE or FCNR fixed deposits, since both allow full, uncapped repatriation of principal and interest. If your income is India-sourced and must go through an NRO account first, remember the USD 1 million annual cap applies whenever you eventually move it abroad.

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Legal, Inheritance and Succession

Can NRIs inherit property and assets in India?

Yes, without restriction, regardless of your current citizenship or country of residence. Inheritance is governed by the succession law applicable to the deceased – the Hindu Succession Act, Indian Succession Act, or personal law depending on religion – not by FEMA.

What is a legal heir certificate, and when do NRIs need one?

A legal heir certificate, issued by local revenue authorities within roughly 15-30 days, establishes your relationship to the deceased. It is used mainly for transferring immovable property, and for claiming pension or insurance benefits.

What is a succession certificate, and how is it different?

A succession certificate, issued by a court over roughly 3-6 months, authorises you to collect movable assets – bank deposits, mutual fund units, shares and other securities – held in the deceased’s name.

Document	Issued by	Used for	Typical time
Legal heir certificate	Local revenue authority	Property, pension, insurance	15-30 days
Succession certificate	Court	Bank accounts, mutual funds, shares	3-6 months

Match the certificate to the asset you are claiming – using the wrong one is the most common reason for delay in NRI inheritance claims.

Is probate of a will mandatory in India?

Probate is mandatory only for wills executed within the original civil jurisdiction of the Mumbai, Chennai or Kolkata High Courts, or covering immovable property situated there. Elsewhere in India, probate is not compulsory, but banks and registrars often still prefer it for a cleaner transfer of title.

Can an NRI appoint someone in India to handle inheritance matters?

Yes, through a Power of Attorney (POA), letting a trusted representative appear in court, transfer property, or operate accounts on your behalf. A POA executed abroad usually needs notarisation and attestation by the Indian consulate, or an apostille, before Indian authorities will accept it.

Can NRIs be nominees on Indian investments?

Yes, NRIs can be nominees for bank accounts, mutual funds, and insurance policies. Nomination only streamlines the initial claims process with the institution – it does not override the legal heirs’ entitlement under succession law if there is a dispute.

What happens if an NRI relative dies without a will in India?

Assets are distributed under the intestate succession law that applies to the deceased’s religion. Heirs typically need a legal heir certificate or succession certificate, matched to the specific asset, before any bank, registrar or fund house will process the transfer.

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Compliance and RBI/FEMA Regulations

What is FEMA, and why does it govern NRI investments?

The Foreign Exchange Management Act (FEMA) is the law governing all cross-border money movement, investment and property transactions involving NRIs. The Reserve Bank of India (RBI) administers FEMA and issues the specific rules – account types, investment caps, repatriation limits – that apply to almost every product on this page.

Do NRIs need RBI permission for every investment?

No. Most common investments – mutual funds, PIS-route stocks, PMS, residential/commercial property, standard fixed deposits – fall under the automatic route, requiring no case-by-case RBI approval. Approval or restriction only applies to specific categories, such as the agricultural land purchase ban.

Does the Liberalised Remittance Scheme (LRS) apply to NRIs?

No. LRS lets resident Indians remit up to USD 250,000 abroad each financial year. NRIs use a separate route, the USD 1 million scheme, to repatriate their own India-based funds from an NRO account – the two schemes are not interchangeable.

What happens if I don’t update my bank about becoming an NRI?

Continuing to operate a resident savings account, or hold resident-status investments, after your status changes is a FEMA violation, even if it happens through oversight rather than intent. Banks and RBI can treat this as a compliance lapse requiring correction.

Are there penalties for FEMA non-compliance?

Yes. Penalties can extend up to three times the amount involved, or ₹2 lakh where the amount cannot be quantified, plus a daily penalty for a continuing violation. RBI’s compounding mechanism lets NRIs voluntarily disclose and regularise past lapses, usually at a lower cost than a formal penalty proceeding.

Do NRIs need to disclose their Indian assets in their country of residence?

Often, yes, depending on that country’s own reporting rules – for example, FBAR and FATCA reporting requirements for US residents holding foreign accounts and investments. This is separate from, and in addition to, your Indian compliance obligations, so check your resident country’s specific disclosure thresholds.

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Repatriation

What does repatriation mean for NRIs?

Repatriation is the legal transfer of money from your Indian accounts to your overseas bank account, governed entirely by FEMA. Your funds fall into either a repatriable bucket (NRE, FCNR, and NRO up to its cap) or a non-repatriable bucket, depending on the account and asset involved.

How much can NRIs repatriate from India each year?

Up to USD 1 million per financial year from NRO account balances, under RBI’s USD 1 million scheme. This covers sale proceeds, rental income, deposits, and inherited assets, once taxes on the underlying income are settled. NRE and FCNR funds have no such cap.

What documents are needed to repatriate funds from India?

• Form 145 – your self-declaration of the remittance, filed on the income tax e-filing portal
• Form 146 – a Chartered Accountant’s certificate confirming tax is fully paid, compulsory above ₹5 lakh
• Form A2 – the foreign exchange declaration your bank needs to process the transfer

Read the full process in our guide on how NRIs repatriate funds from India.

Can NRIs repatriate inherited money or property sale proceeds?

Yes, up to USD 1 million per financial year, per individual heir, once taxes are settled and legal ownership documents (will, succession certificate, or legal heir certificate) are in place. Larger inheritances can be moved across multiple financial years using this annual allowance.

How long does repatriation of funds actually take?

NRE remittances typically process in three to five working days. NRO remittances take one to two weeks, given the additional tax certification and document checks involved.

Can I repatriate mutual fund or FD proceeds directly?

Yes. NRE-funded mutual fund or FD proceeds credit back to your NRE account and are freely repatriable. NRO-funded proceeds credit to your NRO account and count against your USD 1 million annual cap once you request the transfer abroad.