NRI account opening reminds me of how retail broking worked before it became digital, thanks to Aadhaar, e-Sign, and Digilocker.
Physical applications, couriers back & forth, ~30+ signatures, & more reasons to drop off.
Many NRIs want to invest in India but don't because of the onerous account opening process and the added notarizing & international courier costs.
To open an NRI account, you must fill out physical forms and notarize the documents by visiting banks or embassies. On average, it takes over 30 days from the time a customer expresses interest to the first trade. One person on our NRI team opens ~100 accounts per month.
Resident accounts can be opened online, and customers can trade within 24 hours. One person on the resident account opening team can open 40X the accounts compared to NRI accounts.
We at @zerodha have made it easier to operate NRI accounts by allowing trading and investing in the Non-PIS route without any dependency on the banks that run PIS accounts. We are now also maybe the only broker allowing TDS setoff in the Non-PIS route.
Hopefully, NRI onboarding will become easier. Apart from helping build on the India story globally, it can also help the rupee.
By the way, this is where our NRI customers come from. Sub 0.5% of our customers today, but potentially could be a lot more not just for us but the industry, especially in terms of investment value.
everything might not turn out like you imagined, but it'll all end up okay. Because you will post rationalize your decisions and narrativize your conditions into a palatable story you can live with/die to
Introducing #Imaginaire
a #PyTorch library with optimized implementations of several #GAN image and video synthesis methods developed at #NVIDIA
code https://t.co/fWMHEwhS3q
video https://t.co/BUkEE7RB3D
By @liu_mingyu@tcwang0509@arunmallya @xunhuang1995
@KrishnaSpoke Maybe they sell their votes, because they do not have the luxury of doing what is"right" in the face of their poverty. When the poor see themselves being marginalized by all politicians anyway, nobility comes with a step price tag.
The Thompson Reuters Foundation poll is based on the perception of over 500 "experts" & not on the perception of common women in India. How can Syria, where ISIS jihadis held women captive as sex slaves, be more safe for women? Why is Indian media buying statistical gibberish? https://t.co/xUZ99LgtNb
I am a teacher. Arm me. Arm me with funding for a full time school Psychologist. Arm me with funding and mandatory school counselors. Arm me by funding smaller class sizes so I can best get to know every one of my 160 students and their families. Arm us with what we NEED.
Hi #Aadhaar 👋! Can we talk about the #BenefitsOfAadhaar for the #India population?
I quickly check your #android app on the #playstore and you have some security issues...It's super easy to get the password of the local database for example...🤦♂️
https://t.co/acjp6tUjqs