I have opened an orbis account with Fyers but this account only allows me to trade in FNO. I can't purchase equity in this account. For purchasing equity I have to use the NRO account.
Now, I would like to pledge some of my holdings in the NRO account and use the funds as collateral against the derivatives in my FNO account. Is this possible?
I was told by the FYERS sales rep that NRIs are not allowed to pledge their shares as per SEBI guidelines. I tried searching for information on this but didn't come across anything. I think the FYERS guy is confused and has provided me with wrong information. Can someone please tell me if pledging is allowed for NRIs?