Is the PIS account required for an NRO account? (2024)

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No, PIS permission is not required for an NRO (Non-Resident Ordinary) account.

Previously, the NRI had to open NRE and NRO accounts under PIS regulated by RBI. Now, the RBI regulatory norms have been relaxed for NRO account holders to transact easily without following PIS rules.

The buying and selling transactions are executed through the NRI demat account and NRI Savings account with the stock exchange and bank, respectively.

1. Can an NRI invest in shares listed in the stock exchanges in India?
2. How to transfer bonus shares from PIS to Non-PIS Account?
3. What documents are required for NRI PIS Application?
4. Can I have multiple PIS linked accounts?
5. What is NRI PIS Account?
6. How can NRI invest in the Indian stock market without PIS?
7. Which Banks in India offer PIS account?
8. Can the PIS account be opened with a joint holder?
9. How RBI monitors the investment positions of the NRIs?
10. Can shares acquired under PIS be transferred under private arrangements?