How to get NRI PIS permission from RBI through IDBI Bank?

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The NRIs have to submit the PIS Application Form with IDBI to a designated branch in India. The authorized bank provides general permission for 5 years. There is no need to get permission from RBI.

The IDBI bank will inform about the transactions made under the PIS account to RBI on behalf of NRIs.

PIS permission is only required to trade in stocks on repatriation basis. NRIs don't need PIS enabled bank accounts to trade in equity derivatives and mutual funds.

Topic: IDBI Capital IDBI Capital NRI Account Review

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