What is the Regulation of FEMA?

Here are the FEMA rules for the NRIs

• If you changed your resident status to the NRI, then you will need an NRO or NRE savings account as per the Reserve Bank of India (RBI). An NRO is a rupee account that can be opened by two or more NRIs and processes the remittances received from outside Indian via normal banking channels or any other country's given that the account holder during their visit to India or transfer of the credits to NRO bank accounts. 
• An NRE is an external account that is used for money transfer from outside India, and the whole amount is repatriable back to the residing country of the NRI. 
• The income earned from the account is exempt from taxation. 
• NRIs are allowed for unlimited investments through repatriable and non-repatriable transactions. However, according to the FEMA rules, NRIs cannot do small savings ot invest in government schemes like the PPF.