Investments in equities under PIS on BSE and NSE
NRIs can invest in equities on NSE & BSE through bonanzaonline.com. You can invest from your NRE as well as your NRO funds. As an NRI, it is mandatory to open a Portfolio Investment Scheme (PIS) account through any bank approved by RBI. In case, you already have a PIS account, you can link the same to the trading and demat account opened through us. At the end of the day, we will report your trades to the respective designated bank, which in turn, would report the same to RBI.
Operational Procedures:
- A NRI can have only one PIS account with one designated bank only.
- It is compulsory for a NRI to take delivery and give delivery of the shares. A NRI can only sell the delivery lying in his demat beneficiary account. A NRI cannot sell any delivery, which is yet to be delivered from respective Exchanges.
- Every purchase and sale transaction is to be reported to the RBI. We will submit the original contract notes to the designated Bank branch, within 24 hours of the transaction, which in turn will report to RBI.
- A NRI is required to make bill-to-bill payments. No adjustments of purchase against sale consideration can be done. Purchase and Sales will be dealt separately for payments / receipts.
- If a purchase/sale transaction has not been reported / not approved by RBI then the transaction is not considered legitimate and the NRI will not be able to credit the sale proceeds to the NRE / NRO savings account. That transaction will have to be reversed in his account and losses, if any, will be charged to the client.
Derivatives trading on the NSE
A NRI can also trade in derivatives contract approved by SEBI to hedge his/her positions in equity markets by utilizing funds from his/her NRO (Non PIS) bank account.
Investments in IPO & Mutual funds
A NRI can apply for shares in IPO by utilizing funds of NRE / NRO Non PIS bank account. Mutual Funds have always been a choice of investment for investors overseas. As an NRI, you can invest in mutual funds through Bonanza. You can use the Non PIS bank account, either NRE or NRO to invest in mutual funds.
Portfolio Management Services by Bonanza
This is probably the most professional and customized Portfolio Management Service you will discover. Our key objective is your key objective – Significant Wealth Creation for you.
A PMS offers all the benefits of a Mutual Fund Plus other advantages that include the Flexibility to buy stocks in a phased manner and in a conducive market. Our PMS Managers are highly experienced professionals who respond swiftly to changes, rallies, patterns and move your stocks around to capitalize on Market situations.
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Investment in International Commodities & Currencies
You can trade in International commodities & currencies through Bonanza Global DMCC, Dubai. DMCC
