Secured treasury management platform for MSMEs, startups to digitally invest in mutual funds & manage their working capital efficiently. Minors can also invest.
For NRI investments via Power of Attorney, in-person verification of the POA holder will be demanded by the Fund house.
Moreover, signatures of both the individuals involved- NRI and the POA holder must be present on all the KYC documents in order to carry out the investment.
Documents required for mutual fund KYC for NRIs:
PAN Card
Copy of valid passport
Aadhar card (for Indian address proof)
Recent photograph of the investors
Foreign address proof
Once the KYC is complete one can start investing in mutual funds as an NRI investor
NRE account- it helps the NRI to park your foreign earnings in India . The balance here is tax free
NRO account- It helps NRIs to park their earnings from India such as rent, dividend received etc. in Indian denomination. Here, the balance is taxable.
To invest in mutual funds, an NRI must open should either open a Non-resident Ordinary (NRO) account or Non-Resident External (NRE) account.
Both of these accounts are rupee denominated accounts i.e. the balance amt. is in INR (after applicable conversion)
NRIs investing in mutual funds in India also have an option of assigning the Power of Attorney (PoA) to someone in India.
Alternatively, the NRI investor can also hold a joint account with a resident Indian who will then take mutual fund decisions on behalf of the investor
Running a comapny can be hard
but managing #treasuries can be effortless 🪄
Now with mutual funds on https://t.co/LbYj1pFZgq
Hey #startups,
Have you raised funds ? or is your surplus funds lying idle in #currentaccount? Check the blog below:
https://t.co/iG7JtAxE41
#Father : My wife and kids are searching me a #FathersDay2022 gift. Why they don't realize that the greatest gift they can give me is: saving money and investing for a financially secured future.
#FathersDay#fathersdaygifts
story of most retail #investors
June 1: Yay salary got credited, will definitely start investing
June 3: Ohhh electronics on sale. I'll definitely invest next month
July 1: Got #salary, 100% I'll invest
July 15: big sale on e-commerce site
Avoid being like this guy 🤦🏻♀️
RBI increases the #RepoRate by 50 bps to 4.90%.
Repo rate:Rate at which commercial banks borrow money by selling their securities to the Reserve bank.
This rate hike moderates #inflation,keeps fiscal deficit under balance & ensure that external value of #rupee remains stable