Comment on NRI trading on Indian Stock Exchanges

Domnic commented on 27 Jul 2016, 05:47 PM

As per latest RBI regulation (Notification No.FEMA.361/2016-RB) dated 15th Feb 2016 “A Non-resident Indian (NRI), including a company, a trust and a partnership firm incorporated outside India and owned and controlled by non-resident Indians, may acquire and hold, on non-repatriation basis, equity shares, convertible preference shares, convertible debenture, warrants or units, which will be deemed to be domestic investment at par with the investment made by residents.

If NRI is investing on non repatriation basis then PIS account is not required. The NRO savings account should be sufficient in this case. Please clarify if you have started offering the above scheme and whether local demat account can be opened ?

Thanks
Domnic

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