Zerodha’s Nithin Kamath bats for streamlining of regulations on NRI investments in India. Details here

livemint.com:

Non-resident Indians (NRIs) frequently express frustration with the challenges they face when attempting to invest in their home country, citing obstacles such as the intricate account opening procedures, notarization requirements, and the associated international courier expenses. Nithin Kamath’s analogy, shared on X (formerly Twitter), drawing parallels between the NRI account opening process and the pre-digital era of retail broking, underscores the cumbersome and outdated nature of the current procedure. The insistence on physical forms, multiple signatures, and prolonged timelines needlessly complicate the process for NRIs looking to open an account and invest in India.

Kamath is the Founder and CEO of Zerodha. The current generation is blissfully ignorant of the manual account opening process in the pre-digital era of retail broking. Investors were required to complete paper forms, submit multiple document copies, and personally visit a broker's office to sign and submit the paperwork.

This procedure was frequently time-consuming and inconvenient, particularly for investors residing at a distance from a broker's office. Emphasizing the severity of the obstacles encountered by NRIs in their investment endeavours in India, Kamath underscores the striking similarity between the current NRI account opening process and the pre-digital era of retail broking. NRIs still contend with the necessity of completing physical forms, supplying multiple document copies, and personally visiting a bank or brokerage firm to sign and submit paperwork.