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What are the Roles of a Bank?

Bank roles
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What are the Roles of a Bank?

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Issues authorization letter on behalf of RBI for investment under PIS In case of a purchase transaction bank facilitates transfer of funds from PIS account to the broker’s account In case of a sale transaction bank facilitates receipt of funds in to customer’s account from broker’s account Computes Capital gains and effects payment of applicable taxes to Income-Tax Authorities Handles mandatory reporting of PIS transactions to Reserve Bank of India

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