New Delhi, Sept. 9 -- An NRI can be nominated for a Public Provident Fund (PPF), National Savings Certificate (NSC) or Senior Citizen Savings Scheme (SCSS) account held by a resident Indian. However, an NRI nominee receiving the money does not automatically get the right to repatriate the proceeds outside India.

Under Rule 14(9) of the Government Savings Promotion General Rules, 2018, introduced through the 2023 amendment, an NRI can be appointed as a nominee for eligible government small-savings schemes, subject to the condition that payment to the NRI nominee is made on a non-repatriation basis, Anshuman Jagtap, Partner at Economic Laws Practice, explained.

The rules cover schemes including PPF, NSC and SCSS.

There is an important di...