Portfoilo Investment Scheme
RBI Norms on NRI PIS Scheme
- NRIs have to open separate PIS accounts with an Authorised Dealer Bank exclusively for purchase/sale of shares through stock exchanges. NRIs can open PIS account with one bank only.
- NRIs can buy shares up to the RBI prescribed limits in a company i.e., up to 5 % of the paid up capital of the company for a single NRI and 10 % for all NRIs put together. In other words NRIs can purchase up to a maximum of five percent of the paid up capital of a company and maximum of five percent of paid up value of each series of debentures under repatriation basis. In addition to the above, NRIs can hold up to a maximum of 10% of such holding or any higher percentage, so permitted in respect of any particular company. Shares/ debentures acquired through primary market are excluded for the purpose of above limits.
- The investments can be repatriable and non repatriable
We have tied up with various brokers for administering PIS. NRIs in the GCC have access to offices of these brokers. NRIs can issue orders for purchase/sale to corresponding Brokers who will execute the same. The Bank will make payments for the purchase and receive amounts for sale of investments in the NRE/NRO PIS accounts as per the contract notes issued by the Broker. The DP account will be operated by the Bank or Broker as per authorization given by NRIs. As such, NRIs need to issue the orders. The remaining procedures are done by Broker/ bank.
- Geojit Financial Services Limited.
- India Infoline limited.
- Doha Brokerage & Financial Services limited.
- Kotak Securities Ltd.
- Philip Capital (India) Pvt Ltd
- Fortune Wealth Management Company India (P) Ltd
- Hedge Equities
- UAE Exchange and Finance Limited
- Pentad Securities Pvt Ltd
How to Invest in Shares in India
Are you an NRI who wants to trade on a recognized Indian stock exchange? Then, it is important for you to open and maintain an NRO/NRE and a PIS account for trading and for repatriation.
PIS - Portfolio investment scheme is a scheme introduced by the Reserve bank of India. All the NRIs can only have one PIS account with any designated bank branch and the main objective of this account is to have secondary market transactions. The NRI investment schemes enable the NRIs to purchase or sell shares and debentures on a recognized stock exchange/ market by the transactions through their NRI Savings account rather than trading through brokers.
The main advantage of investing in shares or debentures is the potential capital gains that can grow in value over time, income from the dividends and lower tax rates on long-term capital gains. Opening a PIS account and investing in share is a major investment idea as it can offer the highest returns in a short-term period.
Investing in a company's shares means you own a part of that company. The share market is a huge ocean of options for NRI investment in India. When it comes to investing, we want to grow our money with the highest rates.
An intelligent investment is worth it. While there are no shortcuts to getting rich, there are smart ways to go about it – Invest in shares!
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