Manga,
RBI Rules Doesnot Allow For 'Remittance From India For Margin & Margin Calls'
Therefore, If You Have US Dollar Account In A Foreign Bank & You Receive Money From Somebody, Could Be Realtive, Friend Or Anybody & You Give A Cheque Of The Same Amount For You Margin, That Way You Are Not Flouting Any RBI Regulations.
Alternatively, Since Corporates Are Allowed To Trade Or Hedge You Can Have A Company Account With The Broker & Remit From India. You Will Need To Check On The Nitty Gritties Of This With Someone More Knowledgeable
SavantGarde
RBI Rules Doesnot Allow For 'Remittance From India For Margin & Margin Calls'
Therefore, If You Have US Dollar Account In A Foreign Bank & You Receive Money From Somebody, Could Be Realtive, Friend Or Anybody & You Give A Cheque Of The Same Amount For You Margin, That Way You Are Not Flouting Any RBI Regulations.
Alternatively, Since Corporates Are Allowed To Trade Or Hedge You Can Have A Company Account With The Broker & Remit From India. You Will Need To Check On The Nitty Gritties Of This With Someone More Knowledgeable
SavantGarde
So sir , is it not possible to remitt money from India to US broker's bank using ICICI or HDFC ?