At present NRGs and OCBs are permitted to make investments in partnership/proprietorship concerns, shares/debentures of Indian Companies, Units of Mutual Funds, deposits with Banks and Companies, real estate etc. on non-repatriation basis. Moreover, Investments held in India by Indian Citizens who become non-residents on account of their going abroad are treated as investments under the non-repatriation category. The RBI in major relaxation has announced in August, 1994 that income on all such investments held on non-repatriation basis, will now be allowed to be repatriated in a phased manner for a three year period as indicated below:

With immediate effect, such income accruing in the financial year 1994-95 and onwards to the extent of U.S. $ 1,000 per annum is remittable.
Income earned over and above US$ 1,000 in a year would be allowed to be remitted as follows :
one-third of the annual income earned during the financial year
1994-95; two-third of the annual income earned during the financial year 1995-96; and the entire income earned during the financial year 1996-97 and onwards.
Remittance of income as stated above would be allowed only after the payment of tax as per the provisions of the Income Tax Act.
For this purpose, the concerned NRG/OCB should designate a branch of an authorized dealer through whom such remittance of income is sought to be made and approach to the concerned office of the Reserve Bank under whose jurisdiction the designated branch is situated for necessary permission.

However, the principal amount of the investment made/held on
non-repatriation basis will not be allowed to be repatriated abroad.