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Stock brokers charge higher brokerage to NRI customers because of additional complexity with NRI trading due to RBI and FEMA regulations.
While trading on a repatriation basis through PIS-NRE Account, every time a customer buys the shares, the broker sends the Contract Note to the bank and then the bank release the funds to the broker.
The process is more complicated when NRI trading on repatriation basis in equity derivatives segments (F&O's). An NRI needs an additional account with Clearing Agents who does the settlement of the trades instead of the broker.
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