Can I use same PIS for NRE and NRO Demat Account?

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Only NRE Demat Account is required to be linked with NRE PIS Bank Account for trading on a repatriation basis.

For NRO Demat Account, there is no requirement of PIS and trading can be done with Non-PIS NRO Bank, NRO Trading and NRO Demat account on non-repatriation basis.

Below are the account mappings explained for stocks, mutual funds and derivatives investment in India.

Type of Account for NRI

An NRI needs NRE Bank (with PIS permission), Trading and Demat account to trade in Equity on repatriation basis. For trading in equity on non-repatriation basis, they need NRO Bank, Trading and Demat account. The RBI PIS permission is not required for investing on a non-repatriation basis. Investment in Mutual Fund and trading in Equity and Current F&O is only allowed through NRO accounts.

Products Trading Account Bank Account Demat Account
Equity (Repatriable) NRE (PIS) NRE (PIS) NRE
Equity (Not-Repatriable) NRO NRO NRO
Mutual Funds (Repatriable) NRE NRE NRE
Mutual Funds (Not-Repatriable) NRO NRO NRO
Futures & Options NRO NRO NRO


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