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NRI''s based in USA and Canada are still not eligible to invest in Indian stock markets

Checkout Prostocks.com Go through FAQ's at the bottom of the page.

https://www.prostocks.com/trading/nri-trading.html

I an NRI and using there account.

Dear Sir,

NRI's from across the world are eligible to invest/trade in India Stock Market (except intraday trading in equity). NRI's from US, UK, Canada or the Middle East can open NRI trading account.

Problem:
Banks like ICICI doesn't allow NRI's to open a 3-in-1 account from outside India. This is because of their interpretation of an RBI law.

Solution:
1. You still can open a trading account with other brokers like ProStocks, TradePlus, Zerodha, and Sharekhan. You just need NRE or NRO account with a bank.
2. If you are keen to open an ICICI Bank 3-in-1 NRI Trading Account, you could do that in your next visit to India. ICICI allows opening the NRI trading account if you are in India and sign the forms in India. Once opened, you could trade online from anywhere.

Note that even though you have an NRI Trading Account with ICICI, you cannot invest in Mutual Funds or IPO 'online'. They allow you to do this when you are in India.

Other brokers are flexible and offer online MF's.

Hope this clarifies the doubt.

Team Chittorgarh.com