Who can open an NRO PIS Account?

NRIs, PIOs, and OCIs are eligible to open a Non-Resident Ordinary Saving Bank Account, also known as NRO bank account.

NRO PIS Account is an NRO Account with PIS permission by RBI to invest in the Indian Stock Market. NRO PIS Account can be opened only with few designed bank branches by RBI. Though almost all large banks in India offer NRO Account, only a few branches of the bank are designed for this.

Note: The NRO account with a PIS certificate was earlier required by an NRI customer if he was interested in investing the money in the stock market from the NRO Account. However, NRO PIS account is no longer required as NRIs are allowed to invest in equity stocks through the NRO account without PIS permission.