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image PORTFOLIO INVESTMENT SCHEME

  • NRIs can Invest in Secondary Stock market in India on the floor of the Stock Exchange through SEBI RegisteredShare Brokers only
  • PIS Transactions to be routed through a single DesignatedOne Branchof One Bank  - authorized by RBI
  • NRI Investments on Repatriation / Non-Repatriation Basis is subject to ceilingprescribed from time to time
  • NRI to submit form NRI/NRC (Non-repatriation basis) or RPE/RPC (Repatriation basis) to designated Branches
  • NRI to furnish an undertaking to that effect that the applicant has no dealing / will not deal with any other branch / bank under PIS
  • Authorized branches will give one time permission
  • Funds for Investments may be fresh remittances or from NRE / FCNR accounts maintained with the bank
  • Transactions have to be on delivery basis
  • Sale proceeds / Income earned may be repatriated subject to payment of applicable taxes
  • The gains on these transactions are subject to applicable short term or long term Capital Gains
  



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