Can a DP ask for RBI permission for executing instructions of purchase and sale?
Ans. The purchase and sale of shares by NRI requires permission by Designated banks. Therefore, a DP may ask for a copy of the permission from designated bank before executing debit (sale) transaction. They may not also enable standing instruction for automatic credit unless the copy of permission from designated bank for sale/purchase is given. As this permission is not given for each transaction, the copy of the permission may be given only at the time permission is granted.
