NRI Portfolio Investment Scheme

NRI Portfolio Investment Scheme

Overview

As an NRI, you can now invest in the growing Indian economy even when you are abroad. Access the convenience of purchasing or selling shares and convertible debentures of Indian companies using the NRI Portfolio Investment Scheme (PIS) account*. The PIS account needs to be operated in accordance with the terms and conditions specified under the Foreign Exchange Management  Act (FEMA).

Features & Benefits of NRI PIS account:

  • NRI PIS accounts can be opened under the NRE (Repatriable) as well as the NRO (Non-Repatriable) category. As per recent RBI guidelines, NRIs should have a separate bank account exclusively for PIS purposes. Account/s can be held in joint names. A resident can be a joint account holder only in case of NRO Accounts.
  • NRI PIS accounts can be opened at the designated branch i.e. Kodak House branch, D.N.Road, Mumbai.
  • db OnlineBanking banking access will be provided for NRI PIS accounts, allowing you to transfer funds to and from your regular NRE / NRO accounts.
  • Free Online Trading Account opening with Sharekhan Ltd.
  • International/ Domestic Debit cards and cheque books will not be issued on an NRI PIS account.

Apply Now

Contact Us

  • Call 1860 266 6601 #

# Customers outside India need to dial +91 22 6601 6601. Customers in Mumbai can also call at 6601 6601. Call charges apply.

List of Documents

Documents required to be submitted

  • NRE/ NRO PIS account opening form
  • Duly signed Bank AD letter
  • Primary Market and Transfer Case Annexures
  • NRI Declaration and Undertaking
  • Schedule of charges for PIS account  

Schedule of Charges

 Charges Head  Amount
 Account opening fee (one time fee)  Rs.5000
 Annual account maintenance fee   Rs.2000
 PIS reporting charges :-  
 Purchase    Rs.500 per contract
 Sale    Rs.500 per contract
 Purchase / Sale on same contract   Rs.1000
 Sale proceed charges (through secondary market)   Rs.2500 per trade date
 Sale proceed charges for shares acquired through primary market / gift / inheritance   Rs.3000 per trade date
 Application for SPLITTING / CONVERSION / EXCHANGE (Per Transaction)   Rs.200

Common clauses :

  • The above rates are subject to change with 30 days prior intimation
  • Service Tax and Educational Cess as applicable will be levied

* This service is not available to citizens/ residents of USA, Canada and any other country/ jurisdiction which prohibits or restricts in any other manner, the sale and solicitation of Indian securities and any other financial products/ services.