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NRO Non-PIS Bank Account

An NRO saving bank account, without PIS permission, is known as NRO Non-PIS Account. This account is used to manage money earned in India.

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An NRO Non-PIS Account is an ordinary NRO account for NRI. It doesn't have PIS permission attached to it. It is used to manage the money earned from India i.e. income, rent, and dividend, etc. The transactions made from this account are not reported to RBI.

The Non-Resident Ordinary (NRO) Non-PIS Bank Account is also known as NRO Account. As the name suggests, it is a normal saving bank account used for general transactions in India.

Transaction & Payments allowed with NRO Non-PIS Accounts

The NRO Non-PIS Account can be used for trading in equity derivatives (F&O), stocks allotted under IPO, ESOPs or received as a gift or bought when the NRI was resident Indian. It can also be used to make payments for non-brokerages such as account opening fees, Demat Account AMC, etc.

NRO Non PIS account can be used for trading in the stock exchange or secondary market in India.

NRO Non-PIS Accounts Key Facts

  • An ordinary NRO account used to manage income earned in India.
  • Used to sell stocks acquired under IPO, ESOPs, received as a gift or bought as a resident Indian.
  • Can also be used to make payments for non-brokerage charges like account opening fees, NRI Demat Account AMC, etc.
  • Can be used for trading shares in the stock exchange.
  • NRO Non-PIS account is a primary requirement for trading in equity derivatives (F&O) in India.


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Frequently Asked Questions

  1. 1. Who can open NRO Non-PIS account?

    NRI, PIO, and OCI are eligible to open NRO Non-PIS Bank Account in India. The NRO Non-PIS account work similar to a resident saving bank account.

    This account is used to manage/invest money earned in India by the NRI. The source could include rental income, pension, royalty, etc.

    An NRI can open multiple NRO accounts. The transactions in this account are not reported to RBI.


  2. 2. What is the difference between NRO PIS & NRO non-PIS account?

    NRO PIS Account Vs NRO Non-PIS Account

    NRO PIS Bank Account and NRO Non-PIS Bank Account allows you to invest an NRIs foreign or Indian earnings in India on non-repatriation basis. While NRO PIS Account is specifically for investing in stock markets, the NRO Non-PIS Account can be used to invest in stocks as well as any other options in India.


    NRO PIS Account

    NRO Non-PIS Account


    Yes (with certain restrictions)

    Yes (with certain restrictions)

    PIS Permission


    Not Required


    Investing money earned in India in Indian Stock Market

    Investing money earned in India anywhere including Indian Stock Market

    RBI Reporting

    All transactions reported to RBI


    Stock Investment




  3. 3. Can NRI trade on non-repatriation basis without PIS using NRO Bank Account?

    An NRI can link the NRO Non-PIS Bank Account with the NRO Trading Account and trade like a resident Indian without repatriation benefits. The following tables give a clear idea about which account you need to invest in shares, mutual funds, and derivatives (F&O).

    Type of Account for NRI

    An NRI needs NRE Bank (with PIS permission), Trading and Demat account to trade in Equity on repatriation basis. For trading in equity on non-repatriation basis, they need NRO Bank, Trading and Demat account. The RBI PIS permission is not required for investing on a non-repatriation basis. Investment in Equity and F&O is only allowed through NRO accounts.

    Products Trading AccountBank Account Demat Account
    Equity (Repatriable) NRE (PIS) NRE (PIS) NRE
    Equity (Not-Repatriable) NRO NRO NRO
    Mutual Funds (Repatriable) NRE NRE NRE
    Mutual Funds (Not-Repatriable) NRO NRO NRO
    Futures & Options NRO NRO NRO



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