But it may not be the best option for NRIs
A new investment avenue is available to retail investors with India’s central bank allowing them to invest in government bonds for the first time.
The Reserve Bank of India has opened up the government securities market for retail investors by permitting them direct online access to the government bonds market.
India is the first Asian country to allow direct retail participation in the government securities market.
Only a few countries, including the US and Brazil, permit retail investors direct access to government bonds, both primary and secondary.
“Retail investors can now directly buy and sell government bonds, also called gilts, online. With this, more investment instruments are open for retail investors; besides bank fixed deposits, fixed income mutual funds and government small savings schemes such as public provident fund,” said Binoo Nayyar, chief financial officer at TrendRiser Securities, Dubai.
Wishlist includes one-year extension to temporary uplift in days NRIs can spend in the country
NRIs expect a less cumbersome tax regime, lighter tax burden, clear definition of provisions and a relief on residential status in the forthcoming general budget to be presented by India’s finance minister on 1 February 2021.
Many NRIs were caught unawares and stuck in India during the long lockdowns following the covid-19 pandemic spread in 2020.
Those who visited India in March 2020 for a short duration were forced to extend their stay in India beyond April 2020 as international flights remained suspended and the host countries stopped incoming passengers.
Dubai set to shine in the UAE s amended foreign ownership law
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Last Updated: Dec 22, 2020, 07:49 PM IST
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The business landscape of the United Arab Emirates and Dubai has been steadily changing with the introduction of progressive measures. The UAE last month relaxed and removed a range of limits on foreign ownership. Prior to that, the country had also announced a series of reforms to its Islamic legal code. Further to the normalization deal with Israel, the country’s leadership now expects Israelis to join the legion of other nationalities in opening new business ventures and investing in Dubai.