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| Attention Investors |
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| NRI FAQS |
Who is an NRI?
An NRI is an Indian citizen who stays outside India
- For purposes of carrying out employment or any business or vocation.
- Under circumstances indicating an intention to stay outside India for an uncertain
duration.
- Any Indian citizen deputed outside India for a temporary period in connection with
employment. An NRI includes -NRE (Non Resident Emigrant) and NRO (Non Resident Ordinary)
Who is a PIO?
PIO is a Person of Indian Origin. A citizen of a foreign country (other than a citizen
of Bangladesh or Pakistan) is a PIO if
- He/ she at any time held an Indian passport; or
- He/ she or either of his/ her parents or any of his/ her grandparents was a citizen
of India; or
- Spouse (not being a citizen of Bangladesh or Pakistan) of an Indian citizen or (a)
or (b) above
What steps an NRI needs to take to start investing in the Indian
Stock Market?
An NRI should open a new bank account (NRE/NRO or both) with designated bank which
is approved by RBI (Reserve Bank of India) for this purpose. He should apply for
a general approval for investment in Indian Stock Market through his designated
bank branch. He should open a Demat Account with Churiwala Securities Pvt. Ltd.
to hold his shares and register with Churiwala Securities Pvt. Ltd. to execute his
buy/sell orders on the stock exchanges.
Can NRIs invest in shares, debentures and units of Mutual Funds
in India?
NRIs are permitted to make direct investments in shares/ debentures of Indian companies/
units of mutual fund. They are also permitted to make portfolio investments i.e.
purchase of share / debentures of Indian Companies through stock exchange. These
facilities are granted both on repatriation and non-repatriation basis.
Can an NRI undertake intra-day transactions?
NRI customers are authorized to take delivery of shares only. They cannot do intraday
trading owing to restrictions imposed by RBI/SEBI. In the case of Privileged NRI
Account; one could trade in Derivatives subject to approval from relevant authorities.
What is a NRE account?
NRE bank account is an external saving bank account opened for Non resident Indians.
This is why it is known as Non-Resident External account. Since it is an external
account, any monies lying in NRE account can be taken outside the country or in
other words, the monies lying in NRE account are fully repatriable. This money can
be converted into any foreign currency at the behest of the account holder and can
be remitted outside the country.
What is a NRO account?
NRO bank account is an ordinary saving bank account opened for Non resident Indians.
This is why it is known as Non-Resident Ordinary account. Since it is an ordinary
account i.e. as good as a normal saving bank account, monies lying in NRO account
cannot be taken outside the country or in other words, the monies lying in NRO account
are not repatriable.
What is the difference between a NRE and a NRO account?
NRE account is repatriable whereas a NRO account is non repatriable.
Can money be transferred from NRE account to NRO account?
Yes money can be freely transferred from NRE account to NRO account.
Can money be transferred from NRO account to NRE account?
No, money cannot be transferred from NRO account to NRE account.
Who is eligible for opening an NRI account?
All Non-residents Indian(NRI), except minors residing in Gulf Co-operation Council
(GCC) countries of United Arab Emirates, Saudi Arabia, Bahrain, Kuwait, Oman and
Qatar are eligible to avail of this service.
Can securities purchased under repatriable and non-repatriable
category be held in a single demat account?
No. An NRI must open separate demat accounts for holding 'repatriable' and 'non-repatriable'
securities.
Can I get confirmation of Orders that I place Online?
Yes, you can check the status of your orders after you have placed them. All you
need to do is click on Check Order Status. In case your order is open, it can be
modified and in such a case, the column under status will show Open. A click on
Check Trade Status will show you all those trades that have been executed.
What is a contract note?
A Contract note is a statement showing the confirmation of trade(s) done on a particular
day for and on behalf of a client. A contract note establishes a legally enforceable
relationship between the member and client in respect of the trades stated in that
contract note. As a customer of Churiwala Securities Pvt. Ltd. we will also send
you digitally Contract notes on your mail id.
What is TDS?
As per regulatory guidelines, Tax (if applicable) has to be deducted at source for
all the profits done in the equity market transactions. Before crediting sales proceeds
it is the responsibility of the broker and the PIS cell to determine the appropriate
Tax and deduct it at source.
How is TDS computed?
TDS is computed on the profit amount or the gain as per the applicable rate i.e.
short term or long term on a First-In, First-Out (FIFO) basis.
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