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Do NRIs/OCBs 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 ocbs

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Do NRIs/OCBs 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/OCB should have a separate bank account exclusively for PINS purposes. Transactions relating to their personal banking as well as on account of transactions relating to shares acquired other then under PINS including IPOs should be routed in a separate bank account not linked to PINS. Account/s can be joint.