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Friday, 22 Sep 2017

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NRI  Services

 

With India becoming the epicentre of growth the Global Indian feels the need to be connected to the domestic growth story.
Invest4Revival now offers a convenient and hassle-free way of Investing in the Indian Securities Market to the people who are living outside India and wish to participate in the Indian Growth story.

Procedure for NRI operations in Indian Capital Markets:-nri

right-arrow The NRI can deal with only one bank at any point of time.
right-arrow He is allowed to invest only 5% of the paid up capital of a company. The aggregate paid up value of equity of any company purchased by all NRI's and OCBs cannot exceed 10 percent of the paid up capital of the company and in the case of convertible debentures, the aggregate paid up value of each series of debentures purchased by all NRI's and OCBs cannot exceed 10 % of the paid up value of each series of convertible debentures.
right-arrow He can enter only into delivery based trades, all deliveries must only be routed through beneficiary accounts and not directly through the broker.
right-arrowShares bought by him cannot be sold unless the payout of the same is received from exchange.
right-arrowAll purchase and sale transactions have to be reported to the RBI by the designated bank.
right-arrowOriginal brokers contract notes have to be submitted to the designated Bank branch, within 24 hours of the transaction.
right-arrowHe will be required to make bill to bill payments/ settlements. No adjustments of purchase against sale
services_imgconsideration should be done.
right-arrowShares cannot be bought against the shares sold in the same settlement.
right-arrowAll Purchase and Sales will be dealt separately for payments / receipts.
right-arrowSale proceeds of any transaction not reported/approved by the RBI is allowed to be credited to the NRE/NRO savings/demat account. The transaction will have to be reversed in the account and losses if any will be borne by the client.
right-arrowAll tax liabilities arising out of buying and selling of securities will be handled by the designated bank.

 

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