NASDAQ · ETF
Invest in BKMI ETF from India
Indian and foreign residents can buy BNY Mellon Municipal Intermediate ETF (BKMI) units directly through Paasa.
By Paasa · Updated
BKMI at a glance
- Price
- $24.89-$0.11 (0.44%)
- Expense ratio
- 0.35%
- Day range
- $24.85 – $25.09
- Assets
- $1.6B
- Domicile
- the US
- Holdings
- 529
- Launched
- 1987
- Dividends
- Distributing
Top 10 holdings
- 1NY LIBERTY DEV CORP-1 5 11/15/20440.9%
- 2IL ST-REV-B 5 6/15/20390.9%
- 3PORTLAND SWR-A 4.5 5/1/20370.8%
- 4TOBACCO SETTLEMENT-A 5 6/1/20330.7%
- 5WA ST-SER R-2023B-REF 5 7/1/20380.7%
- 6AL TOLL ROAD-1 5 10/1/20320.7%
- 7MARICOPA IDA-B-REF 5 1/1/20340.7%
- 8MAIN STREET NATURAL-C FRN 12/1/20540.7%
- 9CT HLTH & EDUCTNL-B-2 FRN 7/1/20640.6%
- 10DASNY-A 5 10/1/20350.6%
BKMI holds 529 securities in total. These 10 are 7.5% of the fund.
How to invest in BKMI from India
Step 1
Open your Paasa account
KYC takes a few minutes: PAN, Aadhaar and address proof. Your brokerage account is opened in your own name with Interactive Brokers.
Step 2
Add funds from your Indian bank account
Remit up to $250,000 a year under the RBI's Liberalised Remittance Scheme. Your bank converts the rupees to US dollars at its rate on the day you remit.
Step 3
Search BKMI and buy
Find the fund by its ticker, BKMI, on NASDAQ, and place your order. Fractional units are available and there is no minimum trade size, so you can buy by amount.
Why invest in BKMI from India
What BKMI holds
This fund aims to generate the highest possible current income, exempt from U.S. federal income tax, while simultaneously safeguarding invested capital. To achieve this, it typically allocates at least 80% of its net assets (including any borrowed funds for investment) to municipal bonds that produce income free from federal taxation.
Hold a dollar asset
BKMI is priced in US dollars, so a weaker rupee adds to what it's worth in rupees. The rupee depreciated over 85% against the dollar between 2010 and 2025.
Buy a fraction of a unit
Buy by amount, not by unit, and get the matching fraction of one BKMI unit. There is no minimum trade size.
Paasa handles the paperwork
Investing abroad brings paperwork with it: remittance filings, capital gains reporting, foreign asset disclosure. Paasa prepares all of it for you. Your India-ready tax reports arrive at year end, ready to file.
Planning to hold more than $60,000 in US ETFs? Here's what US estate tax means for you.
US-domiciled ETFs held in your own name fall under US estate tax rules. If your US holdings cross $60,000, the amount above that can be taxed at up to 40% when the account passes to your family.
A UCITS ETF tracking a similar market sits outside US estate tax.
Frequently asked questions
Can I buy BKMI from India?
Yes. Indian residents can buy BNY Mellon Municipal Intermediate ETF (BKMI) through Paasa. It is listed on NASDAQ and trades in US dollars. Your money leaves India under the RBI's Liberalised Remittance Scheme, and the units are held in your own name at Interactive Brokers.
What does BKMI invest in?
BNY Mellon Municipal Intermediate ETF holds 529 securities. Its largest holdings are NY LIBERTY DEV CORP-1 5 11/15/2044 (0.9%), IL ST-REV-B 5 6/15/2039 (0.9%) and PORTLAND SWR-A 4.5 5/1/2037 (0.8%). It is a distributing fund domiciled in the US.
What is the expense ratio of BKMI?
BNY Mellon Municipal Intermediate ETF has an expense ratio of 0.35% a year, taken from the fund's assets rather than billed to you. The fund manages about $1.6B.
How are BKMI dividends taxed in India?
BNY Mellon Municipal Intermediate ETF is a distributing fund. It pays the dividends from its holdings out to you in cash. Dividends are taxed at your slab rate in India. Paasa's dividend report lists the gross dividend and any tax withheld for each payment.
What tax do I pay in India when I sell BKMI?
The US does not levy capital gains tax on shares for Indian residents. Gains are taxable in India. Debt-oriented funds can be taxed differently from equity funds, so confirm your rate before selling. The gain is worked out in rupees at the USD/INR rate on the day you bought and the day you sold, so the currency move is part of the gain. Paasa's capital-gains statement gives you the figures for your return.
Can I buy a fraction of one BKMI unit?
Yes. You can buy by amount rather than by unit and add to your position over time. One unit is $24.89, and there is no minimum trade size.
What happens to my BKMI units if I pass away?
US-domiciled ETFs held in your own name fall under US estate tax rules. If your US holdings cross $60,000, the amount above that can be taxed at up to 40% when the account passes to your family. A UCITS ETF tracking a similar market sits outside US estate tax. Paasa's US estate tax calculator shows the exposure for a given portfolio value.