Do NRIs who have an account need to open another NRE/NRO account? Can the account be a joint account

Question: Do NRIs who have an account need to open another NRE/NRO account? Can the account be a joint account?

Answer(s)

Raju Kanumuri: As per recent RBI guidelines, NRI should have a separate bank account exclusively for PIS purposes. Transactions relating to their personal banking as well as on account of transactions relating to shares acquired other than under PIS including IPOs should be routed in a separate bank account not linked to PIS. Account/s can be of ‘joint’ type.

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