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Are there any stocks that are restricted for NRIs?

The Reserve Bank of India monitors the investment position of NRIs in listed Indian Companies, reported by designated banks, on a daily basis.

When the total holdings of NRIs under the scheme reaches the limit of 2 percent below the sectoral cap, the Reserve Bank will issue a notice (Caution List) to all designated bank branches that any purchases of shares of the particular Indian company will require prior approval of the Reserve Bank.

Once the shareholding by NRIs reaches the overall ceiling limit, The Reserve Bank places the company in the Ban List. Once the company is placed in the Ban List, no NRI can purchase the shares of the company under the Portfolio Investment scheme. List of caution/banned RBI scrips is available here .

The Depositories (i.e NSDL & CDSL) also publish the Foreign Investment Limit Monitoring Red Flag list/Caution List and Breach list that is available at the following links:

1. The list from NSDL is available here

2. The list from CDSL is available here