Daily GK Update: 30th October 2015
- NPS will act as an investment option for NRIs under Foreign Exchange Management Act (FEMA), 1999.
- NRIs may subscribe to the NPS through normal banking channels and the person is eligible to invest as per the provisions of the PFRDA Act, 2013.
- NRIs should pay the subscription amounts of NPS either by inward remittance through normal banking channels or out of funds held in their NRE/NRO/FCNR account.
- No restriction will be imposed on repatriation of the annuity or accumulated savings of NPS.