Can NRI have two PIS accounts?

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As per RBI guidelines, an NRI is permitted to have one PIS approval from a chosen designated bank branch.

The PIS approval received from RBI can then be linked with the NRE/NRO account depending on whether an NRI wants to trade on repatriation or a non-repatriation basis. Thus, an NRI can have only one NRE PIS account and one NRO PIS account.


  • The NRE and NRO accounts are required to be opened with the same designated bank branch.
  • The PIS approval for the NRO mode of transactions is now not mandatory.


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