NRI – Resident savings account and PPF investments ?

POSTED BY nirmalagarwal ON December 27, 2014 2:09 pm ONE COMMENT

I read your article

10 Things to Complete before you become NRI

I have following questions :

1) PPF : can I continue to invest in PPF ?

As per RBI FAQ :http://www.rbi.org.in/scripts/FAQView.aspx?Id=52

Note : NRIs are not permitted to invest in small savings or Public Provident Fund (PPF).

It clearly says not permitted . Can you please point me to the literature which says we can .

2) Existing Savings accounts : Can I still maintain them ?  I am having stocks which I don’t plan to sell for next 5-6 years and I get dividend from them.

Is it illegal to not inform banks to convert into NRO accounts ?

One reply on this article “NRI – Resident savings account and PPF investments ?”

  1. 1. Actually the rule says that you cant OPEN AND INVEST in PPF if you are NRI , if you already have a PPF account, then you can surely continue investing in it untill it matures and then you can extend it .

    2. As per what I know , your saving bank accounts get converted to NRO once you become NRI , but you have to surely share that with your bank .. please do it

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