Zerodha (Flat Rs 20 Per Trade)
Invest brokerage-free Equity Delivery and Direct Mutual Funds (truly no brokerage). Pay flat Rs 20 per trade for Intra-day and F&O. Open Instant Account and start trading today.
An NRI can maintain only one PIS account with a designated bank at any point in time.
As per RBI regulations, the Portfolio Investment Scheme (PIS) approval is issued through a designated bank and is linked to the NRI's banking relationship. Depending on the repatriation requirement, the PIS approval may be linked to an NRE account (repatriable) or an NRO account (non-repatriable). NRIs cannot maintain multiple PIS accounts across different banks simultaneously and must route all eligible PIS transactions through the designated bank account.
