NRIs must have a NRO or NRE bank account to invest in Indian mutual funds, as AMCs cannot accept foreign currency investments. All investments by NRIs are made in Indian Rupees.
The NRIs who received such communication in the past few days also include those who have opened FCNR (foreign currency non-resident account) and/or NRE/ NRO deposits.
The extension is granted to allow manufacturers more time to meet the Indian Standards (IS) and the International Electrotechnical Commission (IEC) standards for solar photovoltaic systems, devices, and component goods
The Indian market offers a plethora of options for NRIs to invest and create wealth. These range from equities to mutual funds, fixed deposits, and debt funds.
The New Year is set to see renewable energy growth, coal fired capacity addition, solar manufacturing expansion, and the commissioning of major hydropower projects.