How can NRI Invest in Indian Secondary Markets through us?
The Process is exhibited below: STEP I NRI Investor can open any 4 bank accounts from below:- NRE Account PIS-for secondary market transactions only (repatriable basis) Saving Account-for transferring money to and from PIS -NRE a/c after purchase or sale of shares respectively (repatriable basis) NRO Account PIS-for secondary market transactions only (non repatriable basis) Saving Account-for transferring money to and from PIS-NRO a/c after purchase or sale of shares respectively (non repatriable basis) STEP II NRI Investor can open 2 DP (Demat) Accounts. DP NRE a/c – for shares holding (repatriable basis) DP NRO a/c – for shares holding (non – repatriable basis) Portfolio Investment Scheme (PIS): Schedule 2 and 3 of the Notification No. FEMA 20/2000 RB contains provisions relating to Portfolio investment by NRIs. OCBs are not allowed to make fresh investments in India under the Portfolio Investment Scheme vide Notification No. FEMA 46 dated 29th November 2001. Further, in September 20
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