Comment on Various Types of Accounts

Nithin Kamath commented on 24 Jan 2015, 08:13 AM

Hitesh,
Yes you can open an account in your mothers name. But you cannot link your bank account to her trading/demat account. You would have to first transfer funds to your mother’s bank and from there to her trading/demat.
NRI’s are allowed to do only equity delivery based trading (no intraday equity, and if you want to trade F&O it has to be through the custodial participant route).
As an NRI, you will have to open a PIS account with your Bank. This PIS is linked to Zerodha trading/demat account. When you buy shares, only when we send the contract note to the bank, do they release the funds to us. This causes an incremental effort to service a NRI, hence the brokerage charges are higher. We now charge Rs 200 per executed order, which is still quite cheap compared to everyone else.

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