In association with HDFC Bank, a wholly owned subsidiary of the National Stock Exchange of India Ltd NSE International Exchange has launched trading in India’s first Unsponsored Depository Receipts under the regulatory sandbox framework prescribed by the IFSCA, which will offer Indian retail investors an opportunity to invest in the US Stocks, listed on exchanges like NYSE and NASDAQ in an easy and affordable way. Indian retail investors will be able to transact on the NSE IFSC platform under the Liberalized Remittance Scheme prescribed by the Reserve Bank of India.
NSE IFSC Receipts will make the entire process of investment in global stocks seamless and at a low cost. HDFC Bank’s IFSC Banking Unit in the GIFT City in its role of NSE IFSC Receipts Custodian to this newly launched UDR programme will be issuing the NSE IFSC Receipts and undertake related activities besides opening the depository accounts of investors as a depository participant registered with IFSCA registered depositories.
The Chairman of IFSCA Mr. Injeti Srinivas said, “This innovative offering from NSE IFSC enables retail resident investors to transact in select US Stocks through the NSE IFSC Platform initially under the regulatory sandbox framework and eventually as a regular product on the exchange for all international and domestic investors.”
