Comment on NRI trading on Indian Stock Exchanges

Sambhu commented on 27 Feb 2016, 07:27 PM

The page said:
“Trading Process
Allocate funds from your NRE/NRO bank account to your PIS.
The bank now informs the brokerage firm on how much funds you have allocated. This is then updated on your trading account.”

I have two questions for the above:

Suppose I have both NRE and PIS accounts with AXIS. So I move Rs 10000 from NRE to PIS account, and using Rs 10000, I want to do trading on Zerodha’ platform. My questions are: (a) How would Axis Bank know that it has to inform Zerodha that I have Rs 1000 ready for trading. Axis bank holds my PIS account, but it does not know that Zerodha is my broker. (b) how much time will the bank take to inform Zerodha?

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