AW10
Can Indian Resident can trade into US or Brazil stock exchange ????
I am not qualified to answer this as I don't know latest RBI rules. Maybe other members can help. For NRI, certainly this is possible to invest globally.
Just found an article from TOI site, accordoing to that Resident Indian can use upto $25k to invest abroad..
My personal opinion, there is enough money to be made in our market and there is no need to look beyond NSE/BSE for trading. For invesetment, risk diversification, it is different game but that needs lot more study before putting the money.
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MUMBAI: Citibank on Tuesday announced the launch of "global banking" – a first-of its-kind facility that will offer global financial products and
services for the resident Indians in India.
Citibank is the first bank in India to launch this facility pursuant to the circular issued by the Reserve Bank Of India (RBI) on the liberalized remittance scheme of US $25,000 for resident Indians.
Under this scheme, residents will be free to remit an amount of up to $25,000 per calendar year for any purpose without any distinction between the transaction being on the current account or capital account. They will be free to acquire and hold immovable property or shares or any other asset without prior approval of the RBI.
The Liberalized Remittance Scheme of remitting $25,000 abroad, is in addition to those already available for private and business travel, gift remittances, donations, studies, medical treatment for which residents can remit required amounts in foreign currency.
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