for investing in India, you will need three accounts:
-one online trading account with a broker.
-one demat account with the same broker - this account will hold your shares.
-one bank account with an
Indian bank.
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The leading online broking firms in India are
indiabulls.com
5paisa.com
sharekhan.com
If you are an investor and don't intend to do much trading, then icicidirect.com would be a good choice for you. the site tends to be a bit slow and thus is not recommended for active traders. otherwise it is an excellent service.
if you have a trading aaccount with other broking firms, you have to shift money from your bank to them for being able to trade.
however, if you have an icicidirect.com and an icici bank account, you can trade using the money in your bank as a margin. you need not move money between your broker account and bank again and again.
https://secure.icicidirect.com/custo...n_acct_nri.asp
similarly you can have an account with hdfcsec.com and hdfc bank.
http://hdfcsec.com/Common/NRICustomerAccount.aspx