A simple guide for NRIs to invest in Indian MFs online
Mint Mumbai|November 14, 2024
Unlock a wide range of investment options from anywhere with just a few simple clicks
Anil Poste
A simple guide for NRIs to invest in Indian MFs online

Mutual funds (MFs) have emerged as an attractive investment vehicle for non-resident Indians (NRIs) keen on participating in India's booming economy.

Unlike direct stock investment that involves cumbersome account setups, regulatory complexities, and high cost of Portfolio Investment Scheme (PIS) or non-PIS demat accounts, MFs offer a streamlined and cost-effective alternative.

MFs also allow people to spread risks across market caps, sectors and asset classes, providing NRIs with professionally managed portfolios and long-term growth potential without the intricacies of managing individual stocks.

Here's a Mint step-by-step guide to help NRIs invest in MFs online.

The KYC process

The know-your-customer (KYC) process is the first and most essential step for NRIs to invest in Indian mutual funds, as mandated by the Securities and Exchange Board of India (Sebi).

NRIs must be present in the country to complete the KYC process. "This requirement has been a significant hurdle for NRIs who cannot frequently travel to India," said Dipen Shah, CFP and founder of NRI FinOne.

This has left many NRIs with limited options, forcing them to either delay their investments or rely on third-party intermediaries, wealth management firms, or local banks offering to complete the KYC process.

However, per the 2023 Sebi Master Circular on KYC norms for the securities market, NRIs can complete the KYC process online after coming to India.

According to the circular, the online KYC process for NRIs is to be facilitated through apps developed by Sebi-registered intermediaries.

These include features such as live photograph capturing, scanning of officially valid documents (via Digilocker), and video verification in a live environment.

Diese Geschichte stammt aus der November 14, 2024-Ausgabe von Mint Mumbai.

Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.

Diese Geschichte stammt aus der November 14, 2024-Ausgabe von Mint Mumbai.

Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.

WEITERE ARTIKEL AUS MINT MUMBAIAlle anzeigen
GDP growth falters in Q2, hopes pinned on 2nd half
Mint Mumbai

GDP growth falters in Q2, hopes pinned on 2nd half

GDP growth of 5.4% was the lowest in nearly two years, lower than estimates

time-read
3 Minuten  |
November 30, 2024
Aster DM merges with Quality Care in $5-billion deal
Mint Mumbai

Aster DM merges with Quality Care in $5-billion deal

Bengaluru-based Aster DM Healthcare on Friday announced a merger with Blackstone-backed Quality Care India Ltd (QCIL) in a deal that will value the combined entity at $5.08 billion (₹43,000 crore).

time-read
2 Minuten  |
November 30, 2024
AIFs, equities pip realty in family office funding
Mint Mumbai

AIFs, equities pip realty in family office funding

What's Ahead for Family Offices?

time-read
2 Minuten  |
November 30, 2024
Defence contracts emerge as key biz for telecom infra makers
Mint Mumbai

Defence contracts emerge as key biz for telecom infra makers

India's push for local manufacturing has prised open a new business frontier for domestic telecom equipment manufacturers.

time-read
2 Minuten  |
November 30, 2024
HUL turns to high-growth segments to lift demand
Mint Mumbai

HUL turns to high-growth segments to lift demand

Premium is the watchword for packaged consumer goods major Hindustan Unilever Ltd (HUL), as it unveiled a new strategy on Friday to ride on an expected rise in household income and increasing consumer preference for more expensive brands and products.

time-read
2 Minuten  |
November 30, 2024
Russia's war economy shows new cracks after ruble plunges
Mint Mumbai

Russia's war economy shows new cracks after ruble plunges

The Russian economy, surprisingly resilient through two-plus years of war and sanctions, has suddenly begun to show serious strains.

time-read
4 Minuten  |
November 30, 2024
Colgate making right moves, but valuation a concern
Mint Mumbai

Colgate making right moves, but valuation a concern

Colgate Palmolive (India) Ltd has had a good run in recent quarters and continues to make efforts to boost growth.

time-read
2 Minuten  |
November 30, 2024
Kalyani family's wealth war takes a fresh turn
Mint Mumbai

Kalyani family's wealth war takes a fresh turn

Gaurishankar Kalyani has filed papers to back his claim that HUF exists

time-read
2 Minuten  |
November 30, 2024
Mint Mumbai

Zomato raises ₹8,500 crore via QIP

A big part of the proceeds is to be used to expand Zomato's quick commerce arm Blinkit

time-read
1 min  |
November 30, 2024
Fintech startup Klub halves workforce
Mint Mumbai

Fintech startup Klub halves workforce

Bengaluru-based financing startup Klub laid off about 60-70 employees in September and paused its commerce operations, according to multiple people aware of the developments.

time-read
1 min  |
November 30, 2024