BSE Prices delayed by 5 minutes... << Prices as on Sep 22, 2017 >>  ABB India  1424 [ -1.52% ] ACC  1690.7 [ -3.44% ] Ambuja Cements Ltd.  268.55 [ -2.72% ] Asian Paints Ltd.  1215.15 [ -1.19% ] Axis Bank Ltd.  505.05 [ -1.41% ] Bajaj Auto Ltd.  3039.4 [ -1.26% ] Bank of Baroda  141.75 [ -2.54% ] Bharti Airtel  395.1 [ -1.10% ] Bharat Heavy Ele  129.75 [ -2.52% ] Bharat Petroleum  491.75 [ -0.93% ] Britannia Ind.  4259.8 [ -1.66% ] Cairn India Ltd.  285.4 [ 0.90% ] Cipla  583.8 [ -1.29% ] Coal India Ltd.  253.9 [ 0.12% ] Colgate Palm.  1100.4 [ -1.53% ] Dabur India  304.8 [ -1.80% ] DLF Ltd.  173.5 [ -6.19% ] Dr. Reddy's Labs  2456.65 [ -1.20% ] GAIL (India) Ltd.  397.15 [ -2.37% ] Grasim Inds.  1175.1 [ -2.15% ] HCL Technologies  884.6 [ 1.67% ] HDFC  1782.5 [ -0.35% ] HDFC Bank  1824.55 [ -0.82% ] Hero MotoCorp  3788.15 [ -2.59% ] Hindustan Unilever L  1239.55 [ -1.22% ] Hindalco Indus.  231.3 [ -5.22% ] ICICI Bank  277.1 [ -2.77% ] IDFC L  60.05 [ -2.44% ] Indian Hotels Co  112.15 [ -1.92% ] IndusInd Bank  1707.9 [ -1.22% ] Infosys  898.05 [ -1.26% ] ITC Ltd.  268.25 [ -0.45% ] Jindal St & Pwr  139.35 [ -8.17% ] Kotak Mahindra Bank  1022.65 [ -0.77% ] L&T  1184.9 [ -3.49% ] Lupin Ltd.  1013.55 [ -1.83% ] Mahi. & Mahi  1286.45 [ -0.48% ] Maruti Suzuki India  8074.55 [ -0.71% ] MTNL  20.45 [ 1.49% ] Nestle India  7167.9 [ 0.34% ] NIIT Ltd.  102.15 [ -5.59% ] NMDC Ltd.  122.2 [ -5.01% ] NTPC  166.2 [ -1.13% ] ONGC  164.45 [ -0.93% ] Punj. NationlBak  137.8 [ -2.92% ] Power Grid Corpo  209.75 [ -0.71% ] Reliance Inds.  817.5 [ -2.83% ] SBI  261.9 [ -2.46% ] Vedanta  308.1 [ -4.49% ] Shipping Corpn.  87.4 [ -2.78% ] Sun Pharma.  513.3 [ -1.20% ] Tata Chemicals  615.05 [ -3.85% ] Tata Global Beverage  201.4 [ -5.09% ] Tata Motors Ltd.  411.2 [ -0.51% ] Tata Steel  654.55 [ -4.70% ] Tata Power Co.  80.5 [ -3.25% ] Tata Consultancy  2502.35 [ -0.93% ] Tech Mahindra Ltd.  458.45 [ -0.39% ] UltraTech Cement  3994.2 [ -4.18% ] United Spirits  2464.9 [ -3.92% ] Wipro Ltd  294.05 [ 1.00% ] Zee Entertainment En  521.8 [ -2.58% ] ABB India  1424 [ -1.52% ] ACC  1690.7 [ -3.44% ] Ambuja Cements Ltd.  268.55 [ -2.72% ] Asian Paints Ltd.  1215.15 [ -1.19% ] Axis Bank Ltd.  505.05 [ -1.41% ] Bajaj Auto Ltd.  3039.4 [ -1.26% ] Bank of Baroda  141.75 [ -2.54% ] Bharti Airtel  395.1 [ -1.10% ] Bharat Heavy Ele  129.75 [ -2.52% ] Bharat Petroleum  491.75 [ -0.93% ] Britannia Ind.  4259.8 [ -1.66% ] Cairn India Ltd.  285.4 [ 0.90% ] Cipla  583.8 [ -1.29% ] Coal India Ltd.  253.9 [ 0.12% ] Colgate Palm.  1100.4 [ -1.53% ] Dabur India  304.8 [ -1.80% ] DLF Ltd.  173.5 [ -6.19% ] Dr. Reddy's Labs  2456.65 [ -1.20% ] GAIL (India) Ltd.  397.15 [ -2.37% ] Grasim Inds.  1175.1 [ -2.15% ] HCL Technologies  884.6 [ 1.67% ] HDFC  1782.5 [ -0.35% ] HDFC Bank  1824.55 [ -0.82% ] Hero MotoCorp  3788.15 [ -2.59% ] Hindustan Unilever L  1239.55 [ -1.22% ] Hindalco Indus.  231.3 [ -5.22% ] ICICI Bank  277.1 [ -2.77% ] IDFC L  60.05 [ -2.44% ] Indian Hotels Co  112.15 [ -1.92% ] IndusInd Bank  1707.9 [ -1.22% ] Infosys  898.05 [ -1.26% ] ITC Ltd.  268.25 [ -0.45% ] Jindal St & Pwr  139.35 [ -8.17% ] Kotak Mahindra Bank  1022.65 [ -0.77% ] L&T  1184.9 [ -3.49% ] Lupin Ltd.  1013.55 [ -1.83% ] Mahi. & Mahi  1286.45 [ -0.48% ] Maruti Suzuki India  8074.55 [ -0.71% ] MTNL  20.45 [ 1.49% ] Nestle India  7167.9 [ 0.34% ] NIIT Ltd.  102.15 [ -5.59% ] NMDC Ltd.  122.2 [ -5.01% ] NTPC  166.2 [ -1.13% ] ONGC  164.45 [ -0.93% ] Punj. NationlBak  137.8 [ -2.92% ] Power Grid Corpo  209.75 [ -0.71% ] Reliance Inds.  817.5 [ -2.83% ] SBI  261.9 [ -2.46% ] Vedanta  308.1 [ -4.49% ] Shipping Corpn.  87.4 [ -2.78% ] Sun Pharma.  513.3 [ -1.20% ] Tata Chemicals  615.05 [ -3.85% ] Tata Global Beverage  201.4 [ -5.09% ] Tata Motors Ltd.  411.2 [ -0.51% ] Tata Steel  654.55 [ -4.70% ] Tata Power Co.  80.5 [ -3.25% ] Tata Consultancy  2502.35 [ -0.93% ] Tech Mahindra Ltd.  458.45 [ -0.39% ] UltraTech Cement  3994.2 [ -4.18% ] United Spirits  2464.9 [ -3.92% ] Wipro Ltd  294.05 [ 1.00% ] Zee Entertainment En  521.8 [ -2.58% ] 
 «« +1 playimg1 minus
MCX Future Prices delayed by 20 minutes... Aluminium  138.95 [0.43% ]  Aluminium Mini BHIW  138.95 [0.43% ]  Cardamom VAND  1183.3 [1.37% ]  Castor Seeds  4625 [0.00% ]  Copper  423.55 [0.18% ]  Copper Mini MUM  423.6 [0.21% ]  Cotton(29mm) RJKT  18470 [0.70% ]  Crude Oil  3287 [-0.24% ]  Crude Oil Mini MUM  3287 [-0.24% ]  CrudePalmOil  544.9 [0.94% ]  Gold  29585 [0.07% ]  Gold Guinea AHM  23771 [0.30% ]  Gold M  29608 [0.08% ]  Gold Petal MUM  2935 [-0.03% ]  Lead Mini MUM  161.7 [0.99% ]  Lead MUM  161.65 [0.93% ]  Mentha Oil  1175.1 [0.25% ]  Natural Gas HZR  192.6 [0.20% ]  Nickel  686.9 [-1.08% ]  Nickel Mini MUM  686.8 [-1.08% ]  Pepper  44230 [0.53% ]  RBD Palmolein  579 [0.00% ]  Silver  39727 [-0.26% ]  Silver 1000 DEL  39466 [-0.21% ]  Silver M  39735 [-0.30% ]  Silver Micro AHM  39736 [-0.29% ]  Zinc Mini BHIW  201.05 [1.48% ]  Zinc Mum  201 [1.46% ]  
 «« +1 playimg1 minus
 

NRI FAQ

 
  • 1. Who is an NRI?
     
      An NRI is an Indian citizen who stays outside India For the purpose of employment, business or vocation, or Under circumstances indicating an intention to stay outside India for an uncertain duration, or Any Indian citizen posted outside India for a temporary period in connection with employment.  
     
  • 2. Who is a PIO?
     
      A citizen of a foreign country (other than Pakistan and Bangladesh) is a PIO if;
     (a) He/she at any time held an Indian passport, or
     (b) He /she or either of his/her parents or any of the grandparents was citizen of India by virtue of the Constitution of India or the Citizenship Act, 1955, or
     (c) Spouse (not being a citizen of Pakistan or Bangladesh) of an Indian citizen or of (a) or (b)
     
     
  • 3.Which are the broad schemes under which an NRI can make investments in the Indian Stock Market?
     
      Broadly, NRIs may invest under the Portfolio Investment Scheme (buying through the secondary market) and through the Direct Subscription Route (Investments though IPOs).  
     
  • 4. What is PIS (Portfolio Investment Scheme)?
     
      Portfolio Investment Scheme (PIS) is a scheme of the Reserve Bank of India (RBI) laid down in Schedule 3 of the Foreign Exchange Management (Transfer or Issue of Security by a Person Resident Outside India) Regulations, 2000 under which the ‘Non Resident Indians (NRIs)’ and ‘Person of Indian Origin (PIOs)’ can purchase and sell shares and convertible debentures of Indian Companies on a recognized stock exchange in India by routing all such purchase/sale transactions through their account held with a Designated Bank Branch.  
     
  • 5. Why is PIS required for trading in Indian Capital Markets on fully repatriable basis?
     
      For all the Indian companies or companies listed on Indian stock exchanges, there are certain limits of foreign investment, which are to be monitored under FEMA regulations. Any NRI or a PIO cannot invest more than 5% of the paid up equity capital in any Indian company.  
     
  • 6. What steps an NRI needs to take to start investing in the Indian stock Market?
     
      An NRI should open a new bank account with designated bank branch, which is approved by RBI (Reserve Bank of India) for this purpose.
     (a) He should apply for a general approval for investment in Indian Stock Market through his designated bank branch.
     (b) He should open a Demat Account with a Depository Participant in India to hold his shares.
     (c) He should register with a stock broker in India to execute his buy/sell orders on the stock exchange(s).
     
     
  • 7. What are the different types of rupee accounts permitted to be maintained by NRI?
     
      Two types of rupee accounts viz. Non Resident (external) Rupee Accounts (NRE) and Ordinary Rupee Accounts (NRO) are permitted to be maintained by NRIs. Funds in NRE Account are repatriable.

    NRO A/C.: A NRO bank account is an ordinary saving bank account opened for NRIs. This is why it is known as Non-Resident Ordinary account. The funds, standing to the credit of this account, cannot be repatriated outside India in foreign exchange, without prior permission of RBI. Interest, earned on these accounts, is, however, eligible for repatriation outside India, net of Indian taxes. The remittance of interest (net of taxes) will be permitted by the authorized dealer where the account is maintained, on an application in the prescribed form by the NRINRIs can open NRO account for transactions in rupees without any approval. NRO account can be maintained in the nature of current, savings, recurring or fixed deposit account. NRIs may also open this account jointly with residents. After the NRI returns to India permanently, this account can be again designated as a resident account.

    NRE A/C.: A NRE bank account is an external saving bank account opened for Non resident Indians. NRE account may be opened without any approval if the funds for this account are transferred in freely convertible foreign currency. The funds, standing to the credit of this account, as well as interest earned thereon, are repatriable outside India in free foreign exchange, without permission of the RBI. The interest income is not subject to Indian Income-tax. Credits to the accounts should be in the form of remittance in foreign exchange from outside India, as well as other funds, which are eligible to be remitted outside India, in free foreign exchange. Funds emanating from local sources are not eligible to be credited to these accounts, unless these funds are otherwise remittable outside India, in terms of the existing Exchange Control Regulations. NRIs may jointly open this account with another NRI. This account can be maintained in the form of saving or current or recurring or fixed deposit account.

     
     
  • 8. Can money be transferred from NRE account to NRO account?
     
      For the same NRO accounts are opened. The monies lying in resident saving account can be transferred to NRO account.  
     
  • 9. Can money be transferred from NRE account to NRO account?
     
      Yes. Money can be freely transferred from NRE account to NRO account.  
     
  • 10. Can money be transferred from NRO account to NRE account?
     
      No. Money cannot be transferred from NRO account to NRE account. Even if money is transferred by error from NRE account to NRO account, it cannot be transferred back to NRE account.  
     
  • 11. Does an NRI need any RBI permission to open a Demat account?
     
      No permission is required from RBI to open a Demat account. However, the designated authorized dealer ensures that securities have been received or delivered as per contract notes against payments/receipts made in the bank account.  
     
  • 12. If NRI/PIO desires to make investments under different schemes, can he hold all such securities in a single Demat account?
     
      No. Securities received against investments under ‘Foreign Direct Investment scheme (FDI)’, ‘Portfolio Investment scheme (PIS)’ and ‘Scheme for Investment’ on non – repatriation basis need to be credited into separate Demat accounts. Investment under PIS could be on repatriation (from NRE account) or on non – repatriation basis (from NRO account). Investment under FDI scheme is on repatriation basis.  
     
  • 13. Are all NRIs eligible to trade in Derivatives?
     
      Yes. All NRIs are eligible to trade in Derivatives through their NON PIS NRO account, subject to norms prescribed under FEMA and regulations of NSE, BSE and other regulatory bodies from time to time.  
     
  • 14. Can power of attorney holder manage portfolio on behalf of NRIs?
     
      Yes. A power of attorney holder can manage portfolio on behalf of NRIs. However, he cannot affect remittance outside India. With internet trading, life of NRIs has become easy for portfolio investments.  
     
  • 15. Can NRIs avail of loan against such securities?
     
      Yes. NRIs can borrow against shares or other securities. However, the loan should be utilized for meeting the borrower’s personal requirements or for his own business purposes.  
     
  • 16. Can NRIs invest under portfolio investment scheme out of funds borrowed in India?
     
      No, NRIs cannot invest borrowed funds in India.  
     
  • 17. Can NRIs sell prior to/without having the subject shares with them?
     
      No. All transactions of sales and purchase must be delivery based. Speculative transactions are not allowed. However, NRIs are allowed to enter into forward contracts to hedge their investment made in India.  
     
 
 
   
   
<