At NRIshareJunction.com we focus on providing quality answers to your Indian investment related queries. Our primary focus is to provide complete solutions to Non Resident Indians living abroad including -OCIs and PIOs when it comes to their investing decisions in India. Please feel free to ask any questions pertaining to your investing problems in India. One of our financial advisers will get back to you soon.
Our focus is to help Indians living abroad to invest online in India hassle free. Our certified advisers will walk you through the complicated process of investing in India & make sure that your investments get your best returns in a longer run. Primarily we pledge to deliver our clients value-driven investment and portfolio advising services that would maximize their returns on various investment types in India. We can provide advising on Indian shares, Mutual Funds, Derivatives and Portfolio Management Services.
Attention NRIs..!! NRI Bank Account needed to invest in India. Get more information about how an NRI can open a bank account in India; from the information given on this page.
AXIS Bank Exclusive features that give you added advantages:
High returns: Free Portfolio Investment Scheme (PIS) along with the savings account Low minimum balance requirement
Easy go for India: Convenient account for operating in India Retain complete repatriability rights Single point contact for all your banking needs Multicity cheque book payable across India
Personal convenience: Dedicated Relationship Manager 24 X 7 account access through secure Internet banking facility Mobile Banking facility on even International mobile nos. Power of Attorney facility for local representative in India.
Procedure For NRI To Trade In The Secondary Market Through AXIS Bank, Ghatkopar(East) Branch:
NRIs are permitted to invest in the secondary market in Indian companies, by the Reserve Bank of India, under the Portfolio Investment Scheme (PIS). The transaction should be through a registered broker on a recognized stock Exchange, both on repatriation or non-repatriation basis. The following is the list of services offered to you through a wide network of twenty four designated branches:
# Issue authorization letter on behalf of RBI for investment under PIS
# Facilitates easy transfer of funds for PIS operations
# Computes & deducts Capital gains tax and effects payment of applicable taxes to Income-Tax Authorities
# Handles mandatory reporting of PIS transactions to Reserve Bank of India
# Demat facility available.
With AXIS Bank you will get cutting edge technology and a wide branch network in India as added benefit. You can open PIS A/C with any one out of their twenty four PIS designated branches. NRI can open two types of Bank Accounts:
A. NRE (Non Resident External A/C) : Through this account client can withdraw money in foreign currency. This is Repatriable account. Corresponding NRE Trading and NRE Demat Accounts can be opened with this.
B. NRO (Non Resident Ordinary Account): Through this account client can withdraw money only in Indian reupees. This is Non-Repatriable Account. Corresponding NRO Trading and NRO Demat Account can be opened with this.
RBI permission can be obtained on NRE as well as on NRO basis.
Bank Accounts, Trading & Demat Accounts Checklist:
Below are the list of forms and documents require to open a Saving Bank & PIS account with AXIS Bank and Trading & Demate Account with ShareKhan broker.
1. AXIS Bank NRI Account & PIS: FORM
2. ShareKhan Trading & Demat Account: FORM
3. NRI Check List Check List
If you want to open more than one a/c (say NRE and NRO), then you should send two sets of Account opening forms & PIS application with separate set of documents/attachments. USA NRI Clients: Allowed to do only Offline trading in Equity & Derivatives Market
What you get:
Relationship Manager. Place Buy/Sell order via email, call or online chat
Email confirmations on Trade Regular Trade Recommendations Comprehensive Research Reports
User ID & Password to check account status online on mysharekhan.com
Trade in derivatives through NRO account
Non-USA NRI Clients: Allowed to do Online & Offline trading in Equity & Derivatives Market
What you get:
Trading, Demat and Bank Account. Paper free trading. Trade online on NSE and BSE. Live streaming quotes Multiple watchlists. Digital contracts
Real-time portfolio tracking with price alerts Secure transaction Order & Trade confirmations by e-mail Personalized Market Scan
Fee Payable: US$ 155 ONE-TIME fee for completing all the formalities for opening a bank accounts with AXIS Bank, trading & demat account with ShareKhan broker.
Monthly Fee(Optional) : US$ 210 (per month) to get hot tips, market trend and news on a regular basis plus liation work with Axis Bank & Sharekhan broker.