An NRO Non-Portfolio Investment Scheme (Non-PIS) account is a specialised investment account that allows Non-Resident Indians (NRIs) to invest in Indian securities on a non-repatriable basis. It treats foreign investments as domestic, making compliance and transactions more straightforward for NRIs interested in the Indian capital markets.
| Feature | Description |
|---|---|
| No PIS letter needed | Trading doesn’t require an RBI-issued PIS permission letter |
| Simplified transactions | No involvement of designated banks or daily reporting to RBI |
| Unlimited investment | No cap on how much you can invest in listed securities |
| Flexible bank mapping | Link any Indian bank, not limited to FYERS’ partner banks |
| Mutual fund access | Invest across AMCs in India (except for U.S. and Canadian tax residents) |
| Scenario | What you should know |
|---|---|
| You want to trade F&O | Allowed under NRO Non-PIS; CP code with Orbis Financials is required |
| You want to do intraday equity trading | Not allowed under this account type as per regulations |
| You plan to buy and sell on the same day (BTST) | BTST trades are restricted for NRO Non-PIS holders |
| You want to map any Indian bank | Permitted — you're not limited to specific partner banks |
To begin your FYERS NRI account application, submit your details here.