Hello,
I tried to open an NRI demat account and the bank said I need to open PIS for that. I have some doubt related with that.
Is this the same scheme FIIS required to invest in India?
Can I trade in Indian stock market with this account?
Do FIIs trade in Indian Market? Like retail day traders?
Not much in the know about documentation needs for FII’s and other rules, but if you as an NRI want to invest in the Indian stock market you will need a PIS letter.
As an NRI, you can trade in Equities and Equity F&O but you will not be able to do Intraday trading in equities or trade in Currency and Commodity F&O. You can read this post to learn more on NRI Account.
Thanks