Comment on NRI trading on Indian Stock Exchanges
Hi Nitin,
This is Phani and am really interested to open demat & trading account with Zerodha.
Here is what I understand:
1) Repatriable (Using NRE Savings) : I can open demat & trading account on repatriable using NRE savings & NRE-PIS account but I can’t do trading with this.
2) Non Repatriable (Using NRO Savings): I can open demat & trading account on non-repatriable using NRO savings account (where NRO-PIS is not required) as per recent guidelines from RBI.
3) Finally, as an NRI – I can open one demat & trading account on repatriable and another demat & trading account with non-repatriable i.e., in total I can open 2 demat & 2 trading accounts.
Please confirm whether my above understanding is correct or not?
Regards,
Phani.