Mutual fund related query.?

I am an NRI based in the UK. According to ICICIdirect, I am not allowed to buy mutual funds or IPO's from their portal, only allowed to buy stocks in secondary markets.
Is this a limitation of ICICIdirect, or is it prohibited by law for an NRI from UK to invest in Mutual funds/IPO's in india?

NRI/PIOs/Other Indian Citizens- you are allowed to invest in Indian Mutual Funds. Online application is not accepted. You can invest directly or you may appoint somebody as your POA - Power of Attorney in which case the POA may be handling the transactions on your behalf. You have to provide a copy of PAN - that is mandatory for everyone - irrespective of his status. There is no prohibition by definition unless you are barred from trading speficically for some other reasons.

If You are plann ing to invest in MF of Stocks apply for a PAN card.It is the only identification in financial transaction - and it is mandatory. Report It

If they say that, it should be some prohibition by law.

yes its prohibited,
so i would suggest,find somebody in india whom you can trust with your money,maybe a family member and then invest in their name

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