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What is a non-PIS account?

April 26, 2017account non-pis

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What is a non-PIS account?

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ANS: PIS account is very specialized account wherein activities relating to PIS transactions only are allowed. Other banking related facilities like cheque deposit, fund transfer, cheque issuances etc. are provided to the customer through normal banking base account which is a non-PIS account. This account can be NRE (repatriable) or NRO (Non-repatriable) account. PIS account would be a mirror account of this base account.