IDBI Demat Account Special Conditions For NRIs

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Special Conditions for NRIs

Type of shares and RBI approval requirement

No.	Type of acquisition	Repatriable	Non - Repatriable
1	Primary Market (public issue allotments) incl. Bonus, Rights on them	Issuer company takes approval from Exchange Control Dept. of RBI.Investors require no separate approval.	Issuer company takes approval from Exchange Control Dept. of RBI.Investors require no separate approval.
2	Secondary market before becoming NRI including Bonus, Rights on them.	Not applicable	No RBI approval is required for holding and selling these shares. Investors to inform the companies to change his status to NRI. In Demat, it is automatic as and when Demat request is confirmed by Registrars under NRI account.
3	Secondary market after becoming NRI including Bonus, Rights on them.	RBI approval is required for both, purchase and sale.	RBI approval is required for both, purchase and sale.

Additional Document Requirement

A copy of RBI approval
A duly attested copy of POA (Power of Attorney), if any
If account is opened by a POA holder, the signature verification of POA holder and a covering letter from the NRI for assigning POA to done along with signature attestation and an undertaking that as and when POA is revoked, it will be informed to the Bank in advance
A duly attested copy of POA or POA registration number given by the company must be given along with each DRF submitted by such NRI
Overseas address is mandatory in the account opening form
NRO Account can be opened simultaneously for the purpose of debiting the charges. A debit authorization should be submitted

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Special Conditions for NRIs