What is PIS Account for

S

shubhra

New Member
#1
#1
Hello Everybody,

I tried to open a trading account in HDFC Bank from UK. From last three months I am contacting with them to open demat and trading account but even after that much time, they have just opened PIS account.

I don't know why they have opened it. when i was in india, i didn't had any PIS account and was having demat and trading account.

But the good thing is that so far they have just opened PIS account:mad:, don't know how much time they will take :eek:to open other two account.

Just for PIS they have deducted 2,500 annual charge.

Kindly suggest what to do
 
P

P.Kalya

New Member
#2
#2
Re: what PIS Account is for

For trading in Secondary share market in India, you need PIS account to meet RBI requirements. PIS-NRE/PIS-NRO account is required. You can have only one PIS account.
Since you have demat and trading account already, with this PIS account you can trade now.
 
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