Is PIS mandatory for NRI trading?

Zerodha (Trade with the best stock broker)

Initially, NRIs were allowed to enter Indian stock markets through the PIS route only for investing in equity stocks on repatriation or non-repatriation basis. However, with new rules PIS is no longer mandatory for trading on non-repatriation benefits An NRI can open an NRO bank account, NRO trading account, and NRO Demat account and start trading in Indian equity. The PIS approval is required only if an NRI wants to invest in equity stocks on a repatriation basis.


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