ETMoney now enables NRIs to invest in Indian mutual funds

Indian stock market's outperformance has made it the toast of investment advisors worldwide and has led to rising interest from non-resident Indians (NRIs) to invest in their homeland. The number of NRIs queuing up to invest in Indian mutual funds has gone up in the last two months, say several mutual fund advisors. With lower returns from real estate and gold, NRIs are becoming more inclined to Indian equities and debt instruments. Most of foreign countries' fixed income instruments are giving returns close to zero or negative in some cases, this has further accentuated the trend, reflecting in all-time high foreign exchange reserves with the Reserve Bank of India.

To capitalize on this trend, ETMoney, the Times Internet backed finance app, has updated its iPhone app to enable NRIs to invest in Indian mutual funds using it. According to a press release, ETMoney has seen rapid growth in its mutual fund investment offerings and has already become the largest app-based investing platform in the country in terms of monthly new investors and assets under management.

An NRI needs to have a non-resident external (NRE) or non-resident ordinary (NRO) account in India to be able to invest via the ETMoney iOS app. Investing and withdrawal through the app is completely paperless and takes less than 2 minutes. It's free to consumers and more than 1,000 funds are available for systematic investment plan and lump sum investments on the ETMoney platform, said the press release.

iPhone users can start investing by downloading the app from here

If you are an Android user, you can download the app from here

ETMoney is a product of Times Internet Ltd (TIL) which also runs the website economictimes.com.