How Can NRIs Residing in USA and Canada Invest in mutual funds?

Currently, only 3 mutual fund asset management company allow NRIs from USA and Canada to invest in mutual funds. The 3 AMCs that allows NRIs from USA and Canada are:

• Birla Sun Life Mutual Fund
• SBI Mutual Fund
• UTI Mutual Fund
• ICICI Prudential Mutual Fund
• DHFL Pramerica Mutual Fund
• L&T Mutual Fund
• PPFAS Mutual Fund
• Sundaram Mutual Fund

As the investments in Indian mutual funds can only be done in INR, the NRI needs to open either of NRE/NRO/FCNR account to start investing in Indian mutual funds. For that, the NRI needs a recent picture, PAN card, Passport, PIO/OCI card, proof of residence, and bank statement.