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I have read at various places that the answer is no, but would like references. Also, please define what non-resident means in this context (e.g under the IT act vs FEMA act).

  • Why is this question downvoted? – Miheer Jan 2 '18 at 5:26
  • The official reasons for a downvote are "This question does not show any research effort" or "It is unclear or not useful" and your question certainly meets the first criterion, since you could have found the answer for yourself on the Reserve Bank of India website. – Dilip Sarwate Jan 2 '18 at 15:19
  • @DilipSarwate I did not know how to find the answer on the Reserve Bank website. Being a beginner, I also find the language used in Law dense. It didn't seem as simple as a google search. – Miheer Jan 2 '18 at 15:56
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The answer can be found on RBI website:

https://www.rbi.org.in/scripts/BS_ViewMasCirculardetails.aspx?id=8096#2

NRI for this purpose is defined as a person resident outside India who is citizen of India. In terms of Regulation 2 of FEMA Notification No.13 dated May 3, 2000, Non-Resident Indian (NRI) means a person resident outside India who is a citizen of India. Person of Indian Origin (PIO) means a citizen of any country other than Bangladesh or Pakistan who had (a) at any time held Indian passport or (b) he or either of his parents or any of his grandparents was a citizen of India by virtue of the Constitution of India or the Citizenship Act, 1955 or (c) the person is a spouse of an Indian citizen or a person referred to in (a) or (b).

You can dig out RBI sites for older circulars if you want.

| improve this answer | |
  • To confirm, are you taking about section 4.3 of the circular? – Miheer Jan 2 '18 at 5:35

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