What if I have an existing NRE & NRO a/c with any other bank which is not a designated account for PINS?
If you are not an existing NRI investor under the Portfolio Investment Scheme and only have your NRE and/or NRO account with any other bank(s), though you can continue to have your existing NRE/NRO account with them, you shall have to open a new NRE and/or NRO account with ICICI Bank. These new accounts with ICICI Bank shall now be your designated bank accounts under the Portfolio Investment Scheme. Moreover, to avail of the advantage offered by the integration of the brokerage, Bank and the Demat account, all the three accounts will have to be opened with ICICI group.
