Geojit Financial has unveiled India’s first of its kind platform for Non-Resident External (NRE) and Non-Resident Ordinary (NRO) categories of investors to open online trading and demat account services through Central Depository Services Ltd (CDSL).
As of now, brokerages were offering trading and demat account opening facilities to NRI account holders only as a single category.
“For the first time in India, Geojit has enabled the online opening of trading and demat account for NRE and NRO categories of Indians, entirely through CDSL. All that is required of a prospective participant is to have an Aadhaar linked mobile number and a Permanent Account Number (PAN). Indians located in any part of the world can now seamlessly open an account online and benefit from the India growth story,” said Jones George, Chief Digital Officer, Geojit.
The online account opening platform was developed by Geojit Financial’s subsidiary, Geojit Technologies.
Anil Kumar, Executive Director, Geojit “We developed this platform as there are many non-resident Indians who are interested in investing in the stock markets but the delay in account opening is often a deterrent. Opening a trading and demat account offline takes several days whereas, if all documents are in place, an online account can be opened in five minutes. Now for the first time all NRIs can start investing the Indian stock markets in a few clicks.”
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