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What is the trading process for NRI accounts?

The trading process for NRI accounts is as follows:

  • For NRI-PIS accounts.

The funds should first be allocated from the NRE or NRO bank account to the PIS Bank account. Banks send a report with the PIS balances to Zerodha at the end of the day. The reported PIS balance will reflect as margins in the Kite account on the next trading day before the market opens. See What are the market timings?

Zerodha doesn’t receive the bank reports during the bank holidays and other bank non-working days (2nd & 4th Saturdays and Sundays).

Buy order

When a stock is purchased, the broker sends the buy contract note to the bank at the end of the day. The bank, in turn, debits the PIS account to that extent and credits the brokerage firm one working day after transaction day (T+1).

Sell order

When a stock is sold from the demat account, the broker sends a sell contract note at the end of the day to the bank for calculation of TDS and also credits the PIS bank account with the proceeds from the sale two working days after the transaction day (T+2).

Two separate contract notes are sent to the NRI for all the buy and sell transactions at the end of the day. The net amount credited or debited to the PIS will include all charges in the contract note.

  • For NRO Non-PIS account.

Funds can be transferred to the Zerodha account directly through payment gateway, NEFT, RTGS, and IMPS. To know how to transfer funds, see What are the different ways of transferring funds to my Zerodha account? The trading process for an NRO NON-PIS account is similar to a resident individual account. The only difference is that an NRO bank account is mapped with Zerodha.

  • For Futures & Options (F&O).

NRI investors can trade in the F&O segment of the exchange through an NRO account. A Custodial Participant (CP) code is required to trade in the F&O segment as an NRI. Zerodha has tied up with Orbis for custodial business to help NRI clients receive a CP code. Once the NRI has the CP code, all funds for trading F&O will be with the custodian, similar to how all the funds for trading stocks are with the bank. Visit to know more.

To open an NRI account and to know the difference between a PIS and NON-PIS account, see How can I open a Zerodha trading and demat account as an NRI?