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How many PIS accounts can a NRI customer open?

April 26, 2017accounts customer NRI PIs

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How many PIS accounts can a NRI customer open?

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NRI/PIO can open only one PIS account with any of the designated banks in a prescribed format for PIS account, upon which the bank can issue a PIS approval letter to the investor. If the investor wants to shift banking relationship to other bank, then they have to obtain No objection certificate from your existing banker to cancel the PIS approval with them.