When changing status from NRI to resident, it is the responsibility of the NRI to inform the designated authorised dealer branch—the one through which the investor has made investments in Portfolio Investment Scheme and DP with whom they have opened a Demat Account—of the change of status.
Subsequently, a new demat account in the resident status would have to be opened, securities would have to be transferred from the NRI demat account to resident demat account and then the NRI demat account would have to be closed.
