Axis bank the registered depository participant of the NSDL provides demat account also for the non resident Indians or NRIs. Just opening an account with NSDL at Axis bank will avail the customers all facilities. This bank provides advises on Indian shares. Mutual funds, Insurance, Derivatives and Portfolio Management Schemes.
Anyone who is of Indian origin but residing outside the country can invest in the Indian Stock Market.
Following are the facilities available through Axis NRI Demat Account:
• Easy and speedy transfer of shares and settlements.
• Dematerializations and rematerializations of shares.
• Availability of loans against shares by pledging the shares in the Axis NRI Demat Account.
• Freezing and defreezing of accounts.
• Balance enquiry through emails.
• Statements of accounts sent regularly.
• Issuing the authorization letter on behalf of the Reserve Bank of India for investment under PIS.
• Easy and fast transfer of funds for PIS operations.
• Mandatory reporting of PIS transactions to Reserve Bank of India.
• Streaming quotes from NSE and BSE.
• Paperless IPO transaction.
• Regular trade confirmation for the customers through contract notes.
Following are the procedures to gen an Axis NRI Demat Account:
• Collecting the form from the respective branch or downloading the form.
• Filling the form properly.
• Attaching the required documents like photocopies of passport, pan card, driving license for identity proof.
• Photocopies of the above mentioned documents for address proof.
• Passport size photographs of the applicant and signature made over the photo.
• Details of the bank account which is to be joined with the Demat Account.