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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.



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