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Do NRIs already having an account have to open another NRE/NRO account? Can the account be joint A/Cs?

April 26, 2017account Joint NRE NRIs nro

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Do NRIs already having an account have to open another NRE/NRO account? Can the account be joint A/Cs?

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As per recent RBI guidelines, NRI should have a separate bank account exclusively for PIS purposes. Transactions relating to their personal banking as well as on account of transactions relating to shares acquired other then under PIS including IPOs should be routed in a separate bank account not linked to PIS. Account/s can be jointly held.