October 2, 2013 11:04 pm
Can I nominate an NRI for Post office Monthly income scheme? If yes, what happens if something happens to me, can NRI nominee withdraw all the money from post office?
Dear Smanjeet, there is no restriction on nomination. The problem ‘ll arise later on if indeed you w’d have to file for claim after death of your brother. You ‘ll be short on time and all the work procedures may not get over during your stay in India. Please see it from pratical issues not from theoretical ones. 🙂
Dear Smanjeet, if you are yourself a NRI, you are not allowed to open a new POMIS. You can nominate any person of your choice. It’s advisable to keep a resident Indian as your nominee to get the claim easily.
Situation is like this: My brother in India (Indian Citizen/resident) wants to invest in POMIS and wants to make me nominee (I am NRI). Is it allowed to nominate an NRI?
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