Pis account

My son is having a NRI and PIS account with axis bank for last 8 months. Recently, axis bank has changed the rules and asking the broker to open the account with their bank and also to fill form for repoting to RBI. This form, required for RBI formalites was used to be filled by banks earlier and they are charging for this. The broker is not accepting bankers term and banker are not reverting to old method and in the process I am not able to do any trading and even shares in my account are stuck up. Can anyone know the RBI rules which points out whose responsibility is for reporting the transaction.

B.M.Samdani

If you are Indian and residing in India then one Out of Box option for this problem is, open your own new Indian trading account and use money of your Son to trade. By this way no need to worry about RBI and NRI rules.