Fatca doesn’t prohibit NRIs from investing in mutual funds in India

Photo: iStock I am an NRI and have been told that I can’t invest in mutual funds in India because of Foreign Account Tax Compliance Act (Fatca). Is that true? If yes, what is the next best option for me to invest in? —Abhay Gupta Ever since Fatca has been enforced, financial institutions outside the US have become increasingly reluctant to deal with US entities. This has also led many people to think that Fatca prohibits any transaction between US entities and non-US financial institutions. But Fatca does not prohibit NRIs from…

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