NRIs (Non-Resident Indians) are not permitted to trade equity on an intraday basis in India. All equity transactions must be delivery-based in line with FEMA and RBI regulations. NRIs are allowed to trade in the Futures & Options (F&O) segment through an NRO Non-PIS account, which can be opened directly with FYERS. The same account can also be used for equity delivery.
The table below summarises the permitted and restricted equity activities for NRIs.
| Activity | Permitted | Notes |
|---|---|---|
| Intraday trading | No | Equity orders must result in delivery settlement. |
| Short selling | No | Selling without owning shares is not permitted. |
| Delivery-based trading | Yes | Allowed via PIS or Non-PIS accounts based on repatriability. |
NRIs can trade in the F&O segment through an NRO Non-PIS account opened directly with FYERS. This account also supports delivery-based equity trading.
If you currently operate a PIS account for equity delivery, F&O trading is not available on that route. To trade F&O, you must open an NRO Non-PIS account with F&O access.
| Scenario | Solution |
|---|---|
| You place an intraday equity order | It may be rejected or handled per platform safeguards to ensure delivery-based settlement. |
| You want to trade frequently | Equity trades must remain delivery-based; F&O trading is available via an NRO Non-PIS account. |
| You’re unsure about the product type | Use Delivery/Overnight for equities to remain compliant. |
| You have a PIS account | F&O trading is not supported on PIS accounts. |
| You want to start F&O trading | Open an NRO Non-PIS account with F&O access directly with FYERS. |
Last updated: 20 Jan 2026