Here we are sharing a piece of big news with you Non-resident Indians (NRIs), often express frustration with the challenges they encounter when attempting to invest in their home country, mentioning obstacles such as the complex account opening approaches, notarization requirements and the associated international courier costs. Currently, this news has been gaining huge attention from the people as now they are super curious to know about the whole information about it. Here we have more information about the news and we will share it with you in this article, so let’s continue the article.
Nithin Kamath is one of the famous CEOs of Zerodha and he shared a post on the X platform on Monday “Drawing parallels between the NRI account start process and the pre-digital era of retail broking, highlights the cumbersome and outdated nature of the current system. The insistence on physical forms, several signatures, and long timelines needlessly confuse the procedure for NRIs looking to open an account and invest in India. Kamath is the Founder and CEO of Zerodha. He is also a part of the Forbes billionaires list 2023. Scroll down to the next page for more information about the news.
As per the report, the current generation is blissfully unaware of the manual account opening process in the pre-digital era of retail broking. Investors have been required to finish paper forms, submit several document copies, and personally visit a broker’s office to sign and submit the paperwork. This process was often time-consuming and inconvenient, especially for investors living at a distance from a broker’s office. Highlighting the severity of the barriers faced by NRIs in their investment initiatives in India. You are on the right page to get more information about the news so read the complete article till the end.
How do NRIs invest in Indian stocks?
Non-resident Indians (NRIs) have two immediate options for investing in India: The Portfolio Investment Scheme (PIS) and the non-PIS route. Kamath shares the same on the X platform. The PIS route stands out as a more flexible and widely liked option for NRIs. It gives NRIs the ability to invest in a broader spectrum of Indian securities, bonds, and mutual funds, encompassing stocks and real estate. The non-PIS route verifies to be the more constrained choice for NRIs. It contains NRIs to support a limited set of Indian protection, namely stocks and mutual funds. Here we have shared all the information that we had. Stay tuned to us for more updates.