Opened PIS account, now what?

DilsuknagarDada · Post by **DilsuknagarDada** » Thu Jun 17, 2010 6:59 am

alright..as I have been saying in other threads, this is what happened to me.

when I went to india in Nov-09, I opened 3-in1 account with Axis.

Good thing, while I was there, they completed 2 steps and 3rd step they sent the application to India Infoline.

Both India Infoline and Axis have showed a big fat middle finger and said it is not possible to open DEMAT/Trading account..To be precide, Axis people gave me a cold reply saying they no longer support 3-in-1..so I guess I was screwed half way through

And IndiaInfoline, after taking all forms and application fee, account never got opened. Their helpdesk ppl never respond. The guy who took the forms, quit india infoline and joined someother financial institution and he wants me to apply there again :angry:

So then I spoke to Kotak Security.they say, they cannot open just demat..I need to close existing PIS and open another PIS with them fresh..hell with it :angry:

So friends, here I am stuck, half cooked. With a PIS account (or POS account).

Can anyone tell me what/how do I have to finish the circle and buy some stocks? I am totally pissed...the stocks I wanted to buy in Dec have almost doubled and still account is not opened..what a bunch of loosers..I dont even have words to express :angry: :angry: :angry: :angry: :angry::mad::mad:

geethbala · Post by **geethbala** » Thu Jun 17, 2010 7:26 am

I think that the ideal way out would be send the money to india through remittances and then asking your family to open a account in their name and then start trading. This is what i have planned.

geethbala · Post by **geethbala** » Fri Jun 18, 2010 7:53 am

Hi there. search for PROFIT SHASTRA COM SERVICES. That page gives the steps that US based NRIs should do to invest in india from here. Hope that you get the solution now. I just got an email from them stating that they are the sub brokers for Kotak Bank in India.

Has anyone gone through them for opening the PIS Accounts (From USA). Please let me know. Any responses or feedback about them would be great.

kotak31604 · Post by **kotak31604** » Tue Jun 22, 2010 12:14 pm

Dear Sir,

This response is from Kotak Securities. We apologise for the inconvenience you have faced. We believe all investors deserve a high standard of service and we would be more than glad to help you out.

Unfortunately, we currently do not have the facility of a 3-in-1 account with other entities and are only able to provide an integrated Demat, PIS, Trading account with Kotak. If you wish to open a 3-in-1 account with us, we would be happy to help you. You can contact Siddhartha on 09769230815.

geethbala · Post by **geethbala** » Wed Jun 23, 2010 3:41 am

Hi Sidhartha, do you work for kotak, then can you PM me your official kotak email address? Does Kotak allow NRIs based in USA to invest in india. Please respond. This will help a lot of users in this forum. Thanks...

kotak31604 · Post by **kotak31604** » Tue Jun 29, 2010 2:02 pm

Dear Sir
You could speak to Siddharth on 09769230815 or mail him at siddharth.[email protected]

RRK · Post by **RRK** » Sun Jul 04, 2010 11:38 pm

Kotaksecurities,

WE can't allow members to have a company name as userid.

However if you can send us a letter from the company informing you are authorised to represent the company, then we can allow your userid with your company name.

If you made a mistake, pls send me a pm with a suggestion for new id, I will get it replaced. If I dont receive a response within 2 days, your id will be suspended.

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