08 February 2017 Current Affairs: ICICI Securities, a subsidiary of ICICI Bank, has entered into a strategic partnership with Saxo Bank, an online multi-asset trading and investment specialist.
This partnership will offer Saxo's trading and investment capabilities via a digital platform to Indian investors.
It will enable ICICI Securities' 4 million clients of ICICIdirect.com to diversify their investments outside of the domestic Indian market and access multi-asset investment opportunities on 36 stock exchanges across 24 countries, through SaxoTraderGo.
Clients opting for these services to invest outside India will gain access to third party research with Tradingfloor.com.
Under the Liberalised Remittances Scheme, Indians can invest up to $ 250,000 to acquire and hold shares, debt instruments or other assets outside India without prior approval of the Reserve Bank of India.
Commenting on the partnership, Shilpa Kumar, Managing Director & CEO, ICICI Securities said this will help "our customers diversify their portfolio outside of India".
It will help them leverage the combined strong knowledge and superior platforms and ensure they have access to the broadest set of global capital markets investment options