The Rs 13-trillion portfolio-management services industry, which has grown steadily over the past few years, is pinning its hope on the smooth implementation of the Budget proposal for the non-resident Indians (NRIs) for its growth.
While presenting Union Budget for 2019-2020, Finance Minister Nirmala Sitharaman, said, “With a view to provide NRIs with seamless access to Indian equities, I propose to merge the NRI-Portfolio Investment Scheme (PIS) Route with the Foreign Portfolio Investment Route.” Currently, NRIs can assign only one designated bank for the purpose of ...
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