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Non Resident Portfolio Investment Scheme Account is called NRI PIS Bank Account. Any NRI or PIO holder wish to invest in Indian Share Market via NRE account must have a PIS Account with one designated Bank in India. Now with the new RBI circular, you only need PIS letter if you want to map NRE account with trading account. However, for NRO account you are not required to get PIS letter and you can map your NRO Account to Trading account with any Broker.