If you are an NRI you might have question that whether PIS authorization is mandatory to open NRI trading account in India or not.
The answer is NO, as NRIs can open NRO non-PIS trading and demat account in India. NRIs do not need to obtain a PIS permission letter on their NRO bank account and it can be opened with any bank in India.
Non-PIS NRO bank account holders can purchase and sell shares of listed Indian companies and to trade in equity F&O, they have to obtain a custodial participant (CP) code.
NRIs can also apply for IPOs, and invest in mutual funds and government securities using non-PIS account.