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?

  1. 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
  2. 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


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.


NRI Account Types



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