PIO/OCI MF rules

Tue, 12 May 2026 00:00:00 +0000

Persons of Indian Origin (PIOs) and Overseas Citizens of India (OCIs) are two distinct immigration/citizenship categories with overlapping rights to invest in Indian mutual funds. Since 2015, the Government of India has merged the PIO card scheme with OCI, making OCI the operative category for most purposes. However, legacy PIO cardholders continue to hold their status for financial purposes until they obtain OCI cards. This article explains the regulatory framework, the similarities and differences between PIO and OCI for mutual fund investment, and the practical requirements.

Overseas Citizen on WebNotes

PIO/OCI MF rules