Hello, I am an NRI. I am, not based in Gulf. I would like to buy shares in the secondary market. My DP, who is not a bank, has asked me to obtain RBI approval to be able to buy shares in the secondary market. My bank says that they only deal with NRI's from the Gulf. ICICI bank which opened a joint demat account for me and my wife for the shares held jointly, says, they have now changed their policy and are not willing to open an individual demat account. Some of the shares are held only in my name. I have transferred my demat account from ICICI bank to my current account. I have now closed my Demat Account with ICICI bank.
Much appreciate any suggestions. Also please suggest any bank which could obtain the RBI approvals for me. I could open new account with them.
