What i need to know about NRI?

NRI

Non-Resident Indian (NRI) means a 'person resident outside India' who is a citizen of India or is a person of Indian origin.

NRI Investment Options in Indian Stock Market

NRIs can purchase shares or convertible debenture of an Indian Company, Invest in Exchange Traded Funds (ETFs) and trade in futures & options segment.
Note: Intra-day trading in cash segment is not allowed to NRIs.

What is the advantage for NRI over the resident?

NRI does not have any advantage over Resident Indian except money brought-in in foreign currency and invested through PIS route can be taken abroad post payment of applicable taxes along with interest, dividend and capital gains. The Liberalized Remittance Scheme (LRS) is a facility provided by the RBI for all resident individuals including minors to freely remit up to a certain amount in terms of US Dollar for current and capital account purposes or a combination of both. The present limit under LRS is Rs 2,50,000 USD per financial year per person .

Account are required to be opened by an NRI for investing in Indian secondary markets:

What is Portfolio Investment Scheme (PIS)?

Portfolio Investment Scheme PIS is the scheme of RBI through which NRIs and PIOs can purchase and sell shares and convertible debentures of Indian companies on a recognized stock exchange in India by routing all their transactions through a designated bank branch on repatriation benefit basis. There are few branches of some Banks that are designated by RBI that a NRI can have account with in order to invest in Indian Share Market

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