Can NRI trade on non-repatriation basis without PIS using NRO Bank Account?

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An NRI can link the NRO Non-PIS Bank Account with the NRO Trading Account and trade like a resident Indian without repatriation benefits. The following tables give a clear idea about which account you need to invest in shares, mutual funds, and derivatives (F&O).

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 Equity and F&O is only allowed through NRO accounts.

Products Trading AccountBank 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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