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Planning to name an NRI as nominee for PPF, NSC or SCSS? Know the rules before making the nomination

An NRI can be nominated for PPF, NSC and SCSS, but the proceeds are subject to a non-repatriation condition. What happens after the account holder’s death depends on the nomination, succession rights and applicable FEMA rules.

Planning to name an NRI as nominee for PPF, NSC or SCSS? Know the rules before making the nomination

Key Highlights

  • An NRI can be nominated for PPF, NSC and SCSS, but the proceeds are subject to a non-repatriation condition.
  • What happens after the account holder’s death depends on the nomination, succession rights and applicable FEMA rules.
  • Desk angle: we track rates, inflation, and bank balance sheets against this headline. Always read the original for filings and quotes.

An NRI can be nominated for PPF, NSC and SCSS, but the proceeds are subject to a non-repatriation condition. What happens after the account holder’s death depends on the nomination, succession rights and applicable FEMA rules.

Legal heirs may be able to challenge the nominee’s entitlement, particularly where the nominee is designated as a trustee or where there are questions about the validity of the nomination or competing succession claims. (AI-generated image used for representational purpose)
Legal heirs may be able to challenge the nominee’s entitlement, particularly where the nominee is designated as a trustee or where there are questions about the validity of the nomination or competing succession claims. (AI-generated image used for representational purpose)
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Reported by Kirti Jha · Syndicated via official news feed

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