nri to resident

proceedure to reanfer a/cfrom nri toresident both sb and demat

Hi @ckmalde,

It is important to inform the bank to change the residential status to resident and also to close the NRE/NRO-SB and PIS accounts.

It is the responsibility of the NRI to inform the change of status to the broker where the investments in Portfolio Investment Scheme (PIS) and the DP with whom he/she has opened the demat account.

Subsequently, a new demat account in the resident status will have to be opened, securities should be
transferred from the NRI demat account to resident account and then close the NRI demat account.