What It Means
NRML (Normal) is the product type for futures and options positions you intend to carry beyond the trading day, instead of squaring off intraday like MIS.
How It Works
An NRML order requires the full exchange-mandated margin for that contract — SPAN plus Exposure Margin — with no intraday leverage discount, since the broker has to account for overnight risk. The position stays open across sessions until you close it or it hits expiry, at which point it's settled or exercised per the contract's rules.