RBI permits NRIs to subscribe to NPS

Q.  RBI allowed NRIs to subscribe to which scheme on 29th October, 2015?
- Published on 02 Nov 15

a. National Pension System
b. National Insurance Scheme
c. National Social Security Scheme
d. None of the above

ANSWER: National Pension System
 
RBI on 29th October 2015 permitted non resident Indians to subscribe to National Pension Scheme, taking the decision with the Union Government to enable National Pension System (NPS) as an investment option for NRIs under Foreign Exchange Management Act (FEMA), 1999. NRIs can subscribe to PFRDA’s NPS scheme in accordance with the amendment to Foreign Exchange Management (Transfer or Issue of Security by a Person Resident outside India) (Ninth Amendment) Regulations, 2015 notified on 6 October 2015.

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    Discussion

  • iovd    -Posted on 03 Nov 15
    its a pension scheme not insurance scheme

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