What is the difference between NRI PIS and Non-PIS Bank Account?

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NRI PIS and Non-PIS Bank Accounts are for NRIs and Person of Indian Origin (PIO) to invest in securities in India such as Equity Stocks, Mutual Funds, Bonds, IPOs, ETF etc.

What are PIS and non-PIS accounts?

PIS Account Meaning

Portfolio Investment Scheme (PIS) is a scheme for NRIs by RBI. It facilitates NRIs and Person of Indian Origin (PIO) to buy and sell shares on repatriation basis in Indian stock markt.

Key Points about PIS
- The NRE PIS Bank Account is only for NRIs.
- It is applicable only for trading in Indian stock markets
- It is applicable only for trading in equity segment and not for other investments
- Transaction in PIS account is reported to RBI
Non-PIS Account Meaning

A Non-PIS account is an ordinary NRI savings bank account (NRE or NRO) opened with any bank in India. The transactions in this account are not reported to RBI. The NRO Non-PIS Account can be used to invest in Equity Shares, IPOs, Mutual Funds and Bonds on non-repatriation basis.

Difference between PIS and Non-PIS Account

PIS vs Non-PIS Account

Feature	PIS Bank Account	Non-PIS Bank Account
Purpose	To buy/sell equity shares on repatriation basis.	To buy/sell equity shares and mutual funds on non-repatriation basis.
Source of funds Basis	Can be repatriable	Can be repatriable or non-repatriable
RBI Rules	The secondary market transaction is reported to RBI.	The secondary market transaction is not reported to RBI.
Saving account	NRE Savings Account	NRE and NRO Savings Account
Account Uses	NRIs can buy shares in the secondary market on repatriation basis through this account. This account cannot be used to make any other payments.	All the payment other than the secondary market investment on a repatriation basis is made through this account such as equity shares on a non-repatriation basis, MF, IPO, Bonds, and ESOP.
Shares with resident status	The shares purchased as a resident Indian needs to be transferred to a new demat account on a non-repatriation basis.	The shares purchased with Indian residential status can be transacted through Non-PIS Account.

Topic: NRE PIS Bank Account Defenition

1 Comments

1. romy

| Link|October 16, 2021 6:37:59 AMReply

I am using prostocks from a while now there customer care and service is way better than zerodha. Prostocks only charege max 100 inr for any amount trade
i started opening accounts at same time with zerodha and prostocks
Prostocks account opening was qucik less than two weeks but zerodha unprofessional customer service and response asked me send my paper attested documents from australia at my own expense after sending documents i waited month s then they told my signs don't match this that and there reponse time was very poor . And my account is still not opened with Zerodha
Regards

1.1. lip

| Link|May 23, 2023 4:48:20 AM

bro, chill out.

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