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Infrastructure Debt Funds (IDFs) are investment vehicles for channelizing investment into the infrastructure sector. They are sponsored by commercial banks and NBFCs in India in which domestic/offshore institutional investors, especially insurance and pension funds can be invested through units and bonds issued by the IDFs. Indian government with an aim to accelerate and enhance the flow of long-term debt in infrastructure projects have made new amendments in the tax laws. In the new amendment the government has waived the three-year lock-in period on investments made by non-residents in IDFs, to promote funding in the infrastructure sector. Now, NRI investors can redeem or transfer their funds freely if they want to which earlier wasn’t possible for them during the three-year lock-in period. This step is surely going to attract off-shore investments into IDFs. However, this benefit is available only to NRIs when they have set up IDF in accordance with the conditions and guidelines prescribed by the Central Board of Direct Taxes and RBI.
India is a vast country and a mystery to most. Those who live in it, those who now live outside of India or those who are just visiting. We, at NRIClub™, serve as a centralized hub of information for the residents, non-residents and travellers who are not familiar with various aspects of this great country. We are a unique, online portal providing all of the information to our users that could be relevant to them.
India is a vast country and a mystery to most. Those who live in it, those who now live outside of India or those who are just visiting. We, at NRIClub™, serve as a centralized hub of information for the residents, non-residents and travellers who are not familiar with various aspects of this great country.
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