Why am I not able to transfer funds to/from my NRE-PIS account to my Geojit trading account?
NRE clients are not required to transfer funds to/from their NRE-PIS account to their trading account. Hence, the fund transfer facility on SELFIE / FLIP/ TraderX is not available.
As per arrangements with certain banks, Geojit is intimated regarding the fund balance of NRE clients at the beginning of each day. This balance is made available as buying power for the trading day. Based on trades executed during the day, your NRE-PIS account is debited before the settlement day. Similarly, funds from sale transactions are automatically credited to your NRE-PIS account after trade settlement. Therefore, the statutory payout policy as part of running account settlement is not applicable to NRE-PIS clients.
The list of banks Geojit has a tie-up with for this facility includes Axis Bank, HDFC Bank, IDBI Bank, Federal Bank & South Indian Bank.
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