NRI

1. Who qualifies as an NRI? Before diving into investment mechanics, it is essential to understand who exactly qualifies as a Non-Resident Indian (NRI) under Indian law. The definition differs slightly between the Income Tax Act and FEMA (Foreign Exchange Management Act), and both are relevant when investing in Indian mutual funds. 1.1 Definition under FEMA (relevant for investments) Under FEMA, which governs foreign exchange and cross-border investments, a person is classifi