Zerodha CEO Nithin Kamath praises SEBI for proposed NRI investing rule change
SEBI has proposed a fully digital onboarding process for non-resident Indians. This move aims to eliminate the need for overseas Indians to be physically present in India. The new proposal will significantly reduce tedious documentation and courier delays for investors. This change is expected to streamline account opening from weeks or months to just a couple of days. Such improvements will…
Zerodha CEO Nithin Kamath expressed his admiration for SEBI's proposal of a fully digital onboarding process for Non-Resident Indians (NRIs). According to Kamath, this move could significantly alleviate the major hurdle that NRIs face when investing in Indian markets. However, he noted that the biggest challenge has long been the cumbersome onboarding process, particularly the documentation and international courier delays for NRIs residing abroad.
Kamath stated that if SEBI's proposal is finalized, it would drastically reduce the time taken for account opening from 2-3 weeks or even months to just 1-2 days. This change could potentially expand the NRIs' investment base many times over.
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