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  • Icici Bank Application For Designating Bank Account For Portfolio Investment Scheme (pis)

Get Icici Bank Application For Designating Bank Account For Portfolio Investment Scheme (pis)

APPLICATION FOR DESIGNATING BANK ACCOUNT FOR PORTFOLIO INVESTMENT SCHEME (PIS) Application for designating an exclusive account for routing all his/her transactions made under Portfolio Investment.

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RBI has authorised only designated branches of a bank to administer the PIS. To open a Zerodha account, NRIs must have a PIS account with any one of the following banks: IDFC First, Yes bank, Axis, HDFC or IndusInd bank. NRIs who do not have a PIS letter can open an NRO Non-PIS account to invest through Zerodha.

NRI PIS and Non-PIS bank accounts allow NRIs and PIOs to invest in securities in India such as mutual funds, equity stocks, IPOs, ETF, bonds, etc....Difference between NRI PIS and Non-PIS. FeaturesPIS Bank AccountNon-PIS Bank AccountSource of fundsCan be repatriableCan be repatriable and non-repatriable4 more rows • Aug 17, 2022

The PIS account is mapped with the NRE Savings Bank (SB) account being maintained with any of SBI branch, to enable the customer to execute trades. The PIS account is to be used for settling funds arising out of sale/purchase transactions.

What you can do with PIS: You can invest in shares and bonds of companies listed on the stock exchange. You can invest in futures or options that are traded only through an accepted stock exchange. You can execute such trades on a non-repatriation basis only, and this is subject to RBI regulatory limits.

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.

A Non-PIS account is basically a standard NRI savings bank account, which enables NRIs to take position in shares of Indian companies on a non-repatriation basis. Thus, such an account can be opened with any bank in India.

NRIs can get the PIS letter with the help of the bank where the NRE or NRO account was opened. RBI has authorised only designated branches of a bank to administer the PIS. To open a Zerodha account, NRIs must have a PIS account with any one of the following banks: IDFC First, Yes bank, Axis, HDFC or IndusInd bank.

You can freely invest in the Indian stock market either on repatriation or non-repatriation basis. However, you need PIS-enabled NRE or an NRO account to participate in share trading.

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© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232
Form Packages
Adoption
Bankruptcy
Contractors
Divorce
Home Sales
Employment
Identity Theft
Incorporation
Landlord Tenant
Living Trust
Name Change
Personal Planning
Small Business
Wills & Estates
Packages A-Z
Form Categories
Affidavits
Bankruptcy
Bill of Sale
Corporate - LLC
Divorce
Employment
Identity Theft
Internet Technology
Landlord Tenant
Living Wills
Name Change
Power of Attorney
Real Estate
Small Estates
Wills
All Forms
Forms A-Z
Form Library
Customer Service
Terms of Service
DMCA Policy
About Us
Blog
Affiliates
Contact Us
Privacy Notice
Delete My Account
Site Map
All Forms
Search all Forms
Industries
Forms in Spanish
Localized Forms
Legal Guides
Real Estate Handbook
All Guides
Prepared for You
Notarize
Incorporation services
Our Customers
For Consumers
For Small Business
For Attorneys
Our Sites
US Legal Forms
USLegal
FormsPass
pdfFiller
signNow
airSlate workflows
DocHub
Instapage
Social Media
Call us now toll free:
1-877-389-0141
As seen in:
  • USA Today logo picture
  • CBC News logo picture
  • LA Times logo picture
  • The Washington Post logo picture
  • AP logo picture
  • Forbes logo picture
© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232