NRI Person trading tin FnO

D

DigvijayPatil

New Member
#1
#1
Hello
One of my friend wants to trade in NSE Futures segment. He wants to trade with capital of 7 lakh. He is an NRI. He has 'an NRO account' and 'a savings account with SBI'. Both accounts are active.

My question is can he trade in Futures segment using his SBI savings account as a resident indian, using regular account opening procedure.? If he does that, will it be considered illegal.
If not then is there any way that allow him to trade in Futures.?

Thanks in advance.
 
C

curiousv

Scalper
#2
#2
Using resident account after becoming NRI is not legal I think but he can open NON PIS NRO trading account with broker like Finvasia or prostocks and use this NRO bank account to trade in futures.
 
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