PIS & Mutual Fund Investement A/Cs

G

gourimaya

Member
#1
#1
Hello,

I am an NRI and I have a PIS account with AXIS bank. Now I would like to open a mutual fund investment account with HDFC Bank. Is it possible ? Are there any regulations from RBI, that an NRI has to do all investment in stock markets only thru one bank ?

I know that NRIs can have only one PIS account.

Expecting info from experts.

Gouri
 
P

P.Kalya

New Member
#2
#2
Hello,
For Mutual Fund Investment A/Cs PIS bank account is NOT required. Only non-PIS account is required and hence you can open Investment Service Account (ISA) with HDFC bank for investing in mutual fund.
regards
 
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