SPECIALISED NRI SERVICE - PORTFOLIO INVESTMENT SCHEME

ADCB, Mumbai, specialises in offering its friendly and expert services to help you avail of our Portfolio Investment Scheme on a NON DISCRETIONARY basis.

We extend our assistance for:

  1. Concluding the secondary market transactions on the bourses through our panel of approved brokers, on your behalf with your specific instructions as regards the scrip, quantity, price and time limit.

  2. Applying to new share / debenture issues.

  3. Issuing general permissions for secondary market operations and complying with Exchange Control formalities.

  4. Registration of securities in your name/s.

  5. Follow-up of a transaction upto its successful and satisfactory conclusion eg: receiving sale proceeds in case of "Sale" of securities and payment of tax as applicable or registering the scrip in case of "Purchase" of Securities.

  6. Safe Custody of securities.

  7. Resolving the difficulties attendant to delivery of scrips.

  8. Opening depository account/s for our customer with designated depository participants in Mumbai for transacting in D-matted scrip, purchased / sold through us.

Conditions:

  1. For availing PIS (Non-discretionary) you are requested to maintain fixed deposits equivalent to US$ 25,000/- during the time you continue to avail PIS (Service charges + waiver)

  2. Execution of Power of Attorney and letter of authority in favour of ADCB, Mumbai (Draft Format will be available on request)
    (The compliance of the above two conditions entitles you for:

    • Enjoying facility of safe custody of scrips registered in your name/s.

    • Concluding secondary market deals.

    With a waiver of 50% of charges applicable to both these activities.)

  3. You should have a Savings Account with us, which will enable you to pay / receive the consideration for shares purchased / sold by you.

  4. The purchase consideration should be provided in your Savings Account at the time of placing your "BUY" order with us.

  5. Scrips should be made available with us at the time of placing SALE order with valid transfer deeds.

ABU DHABI COMMERCIAL BANK LIMITED, BOMBAY BRANCH TARIFF RATES OF PORTFOLIO INVESTMENT SERVICES

  • Those customers who propose to avail the Portfolio Investment Services of the Bank will need to keep a minimum threshold deposit of Rs 3 lacs and minimum balance of Rs.25,000/- in savings / Current Account.
  • The customer will compulsorily have to open a demat account with us.
  • Those customers who are maintaining deposits of US$.15,000/- or equivalent in rupee will be entitled to a waiver of 25% of the charges on all services mentioned herein below:
  • Those customers who are maintaining deposits of US$20,000/- or equivalent in rupee will be entitled to a waiver of 50% of the charges on all the services mentioned herein below:

    SR NO.

    NATURE OF SERVICES

    PIS CHARGES

    1.

    PURCHASE /SALE of securities in demat form against customer’s order/s

    1% of the value of the deal or Rs.200/- min per company.

    2.

    GRANTING APPROVAL for BUYING / SELLING of shares in secondary market or seeking RBI approval on any related matters/ Renewal of approval.

    Rs.1000/- per application.

    3.

    Safe keeping of share / scrips / securities

    Rs.5000/- p.a for a maximum of 1000 certificates in other cases Rs.5 per share certificate held as on December 31 every year.

    4.

    Withdrawals

    Rs.5/- per certificate

    5.

    Issuing STATEMENTS of Portfolio as kept in safe custody

    1st half yearly statements will be free.

    2nd half yearly statement Rs.50/- per copy

    6.

    Application for SPLITTING / CONVERSION / EXCHANGE

    Rs.100/- per application

    7.

    REGISTRATION of POA with companies

    Rs.100/- per application

    8.

    CREDIT for sale / payment of purchase of shares to / from account into by customers directly

    1. NRO – Free
    2. Credit to NRE account
      IRS.200/- per company

     

    9.

    PAYMENT of call money / rights shares / applying for buy back offer

    Rs.100/- per application per company.

    For Further information on DEMAT Companies visit :
    www.nsdl.com

    Forward Exchange Cover for NRIs/OCBs (with reference to Portfolio Equity Investment)

    Authorised Dealers in India have been allowed to provide forward cover to NRIs/OCBs in respect of their equity investments. However, this will cover only fresh investment made over the value of total equity investment of NRI/OCB outstanding as of close of business on June 11, 1998. The cover can be provided to the extent of 15% of the market value of investment in equity as of close of business on June 11, 1998 converted into dollar term at the rate of USD 1 = Rs. 42.38. This will be in addition to the facility already available for incremental investments.

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