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NRE account in a bank allows NRIs to invest in India on a repatriation basis. It is mandatory for NRIs to get PIS account to invest in Indian equities through an NRE account.
If an NRI gets RBI PIS permission it will be known as an NRE PIS account otherwise called an NRE non-PIS account.
Check out the differences between NRE PIS and NRE non-PIS accounts;
| NRE PIS Account | NRE Non-PIS Account | |
| Meaning | It combines two accounts; an NRE bank account and PIS account after receiving PIS permission certificate from RBI. | NRI having NRE bank account in India without PIS approval. |
| Purpose | Invest foreign income in Indian stock market. | Invest income earned overseas in India like IPOs except stock market investment. |
| Equity investment | NRE PIS account holders can buy and sell shares or securities listed on BSE and NSE. | NRE non-PIS account does not allow NRIs to invest in Indian equity market. |
| RBI Reporting | All transactions routed through NRE PIS account are immediately reported to RBI. | No transaction is reported to RBI. |