What is Portfolio Investment Scheme – PIS?
Portfolio Investment Scheme (PIS) is a scheme of the Reserve Bank of India which defines that Non Resident Indians can purchase and sale shares and convertible debentures of Indian Companies on a recognized stock exchange in India by routing all such purchase/ sale transaction through their a/c held with a designated bank branch. PIS account is one type of saving account with bank only for NRI’s secondary market transaction. Any NRIs want to trade/make fresh investment in the Indian equity secondary market needs and must have one PIS account with only one designated bank in India. Note :- 1. PIS a/c is only for NRIs 2. It is only for trading in Indian market not for foreign market. 3. It is applicable only for equity trade not for MFs investment. PIS Account-Eligibility Foreign Institutional Investors (FIIs), Non-Resident Indians (NRIs), and Persons of Indian Origin (PIOs) are allowed to invest in the secondary capital markets in India through the portfolio investment scheme (PIS). Und
