Can you day trade in India while being an NRI?

Can some one living in the USA day trade in Indian stock market?

Please refer this article Zerodha – Support Portal

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As per the RBI rules, NRIs cannot participate in intraday trading. They can only trade in the delivery segment, selling a stock only T+2 days after the purchase.

To clarify further, let me explain who an NRI is.

● Any Indian citizen who has not resided in India for at least 182 days during a financial year is considered an NRI.
● Any Indian who has not stayed in India even for 60 days, even though they have fulfilled another condition of staying in India for 365 days for 4 years, will also be considered an NRI.
There are several other restrictions for an NRI. As an NRI, knowing the restrictions will help you trade better. So, I am stating some of the most restrictions for your guidance:
● Not just intraday, even BTST, STBT and short selling is not available for NRIs
● NRIs are also barred from trading in the currency derivative and the commodities segment. So, besides equity, NRIs can trade in the F&O segment.
● As an NRI, you cannot hold more than a 10% share of any Indian listed company. In the case of banks, this percentage goes up to 24%.
● In PIS (Portfolio Investment Scheme), NRIs are only allowed one PIS for the repatriable shares and one PIS account for non-repatriable shares.

NRIs can also open a Demat account directly with a broker, but they need to furnish additional documents.