NSE IX Global Access: Overseas Investing for Indians
Why in the news
The NSE International Exchange opened a platform enabling retail investors and NRIs to buy overseas securities directly.
Key facts
- Products: equities, debt instruments and ETFs.
- Phase one: US-listed stocks; 30+ markets planned within 3-6 months.
- Limit: USD 250,000 yearly for a resident individual under the Liberalised Remittance Scheme.
How it works
Rupees go to a designated NSE IX bank account and are converted to US dollars for investing. No separate demat account is needed.
Exam angle
- Scheme used: Liberalised Remittance Scheme.
- Regulator: International Financial Services Centres Authority.