Can NRI nominate a power of attorney to trade and invest in India?

Yes, an NRI can give a power of attorney (POA) to a resident Indian to trade and invest in India on behalf of the NRI. By appointing a POA, it becomes easy to operate and manage the financial transactions of an NRI.

Though appointing a POA holder can ease the task of an NRI, there are some restrictions on the POA holder. A POA holder cannot open or close the bank accounts. A POA holder cannot repatriate funds outside India and the withdrawals are restricted to local payments. A POA holder is just a representative of the NRI and ultimately an NRI is responsible for all his investments.