Who can open NRO Non-PIS account?

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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.

Topic: NRO Non-PIS Bank Account Defenition

1 Comments

1. Mohan Praveen

| Link|July 9, 2021 8:58:12 PMReply

The NRO Non-PIS account work similar to a resident saving bank account - does this mean that should we still have a non PIS account or the NRO account itself is good enough for investment in MF / Shares etc

Find more questions on this topic

What is the difference between NRO PIS & NRO non-PIS account?
Can NRI trade on non-repatriation basis without PIS using NRO Bank Account?

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