NRI

1) Is permission necessary from RBI for NRI’S to invest in India?

As per RBI notification, NRI’s do not need to apply for permission to invest in Indian Primary(New Issues) Market and Mutual Funds. However for Secondary Market you just need to intimate the designated bank where you have your NRE/NRO account and complete the necessary forms under PIS (portfolio investment scheme) .

2) What are the various kinds of accounts that I need to trade in the Indian Stock      (Secondary) Market?

Three kinds of accounts are required to be able to trade . They are:

a) Broking account with Refco-Sify Securities Pvt Ltd
b) Depository Participant (DP) account with either Refco-Sify or with the designated bank with which     you have opened your account.
c) Bank account (your NRE/NRO account) with a designated bank such as HDFC Bank, ICICI Bank     etc

All the forms will be sent to you to open the account.

3) What is a designated branch of a Bank?

The Reserve Bank of India has authorized selective branches of major commercial banks to conduct business under portfolio investment scheme (PIS) on behalf of NRI. NRIs have to open an account only with the designated branch of a specified bank. These branches are also known as ‘authorised dealers’.

4) What is the difference between NRE & NRO bank accounts?

Under NRE accounts, funds can be repatriated whereas funds under NRO accounts are non repatriable. Investment in Primary Issues, Secondary Market and Mutual Fund can be done on repatriable basis. However investment in Futures & Options is only allowed on Non repatriable basis.

5) What is a Depository?

A depository holds your securities in electronic form just as the bank holds cash for its customers. Currently, there are two main depositories in India, namely, 1) National Securities Depository Ltd. (NSDL) & 2) Central Depository Securities Ltd. (CDSL),both of which are regulated by SEBI.

Refco-Sify or your designated Bank whichever you choose for DP services will hold your securities in electronic form.

6) Does commerztrade have an overseas offices to service NRI clients?

We have overseas offices in Singapore, Indonesia, Malaysia, Dubai, Hongkong and Chicago.


7) Can I trade Stocks, Futures & Options Online ?

Yes you can trade from anywhere online with Refco-Sify.


8) How do I get started?

Just send us an email at nri@commerztrade.com with your name , contact details and address and a customer relation representative will contact you.