Ans. Yes. Investments in National Savings Certificates can be made by NRIs subject to the terms and conditions applicable to the sale/issue of such certificates. However, NRIs are not permitted to invest in bearer securities like Indira Vikas Patra/Kisan Vikas Patra.

Ans. Yes. Investment upto 100% in the new issue of equity shares/convertible debentures of Indian companies engaged in the followed areas is allowed- ii) Real estate covering construction of residential and commercial premises including business centres and offices;

Ans. NRIs can make investments in new issues of shares/convertible debentures of Indian companies under direct investment schemes such as 24% scheme/40% scheme/100% scheme. They can also invest in the schemes of domestic Mutual Funds floated by public/private sector institutions/companies and bonds issued by public sector undertakings, Non-resident investors are not required to apply for permission to invest but the company concerned will have to obtain permission from Reserve Bank.

Yes. NRIs can send drafts issued by Exchange Houses in favour of co-operative housing societies/estate develops for acquisition of residential flats in India in individual names. Yes. NRIs can take out of India precious stones and jewellery (both gold and non-gold) purchased by them in India, without any limit, provided the purchase is made against payment in any convertible foreign currency.

Ans. Yes. Applications for necessary permission should be made to Reserve Bank (Central Office) by the concerned Indian Company in form ISD,

NRIs are allowed to invest in the shares of Indian Companies either through the Direct Subscription route - Investments through IPOs/Private Placements Through the Portfolio Investment Scheme - in case of secondary market transactions

The timings of the post office are from 1000 to 1630 hrs form Monday to Friday and 0930 to 1230 hrs on Saturdays. The administrative offices are open from Monday to Friday from 0930 to 1700 hrs and 0930 to 1230 hrs on Saturdays.

Response: Information on products is usually provided to post offices through brochures and product documents and training through induction courses. It is possible that in some instances the information was not very well understood by the staff.