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Will PIS permission be for lifelong with IDBI bank?

Zerodha (Trade with the best stock broker)

No, the PIS permission is not life-long. IDBI or any other authorized banks are allowed to issue general permission only for 5 years. After 5 years, NRIs have to renew the PIS permission with a designated branch for another 5 years and so on for a concerned period.

Topic: IDBI Capital IDBI Capital NRI Account Review

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Find more questions on this topic

  1. Can I open an NRI account with any IDBI branch?
  2. What is the maximum amount an NRI can remit from the IDBI NRI account?
  3. How to get NRI PIS permission from RBI through IDBI Bank?
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