Portfolio Investment Scheme Account

By foreign inward remittance by way of TT, DD, cheque, Travellers cheque, foreign currency, etc., or transfer from existing NRE accounts or FCNR accounts.

• Non Resident External (NRE)
  • Inward remittances in foreign exchange through normal banking channels;
  • Transfer from applicant’s other NRE accounts or FCNR accounts maintained with AD bank in India;
  • Dividends or income generated from investments made through the PIS are also part of the financial transfers enabled by the PIS account, demonstrating its comprehensive coverage for investors.
  • The PIS account facilitates the transfer of net sale proceeds (minus applicable taxes) from shares and convertible debentures purchased on a repatriation basis under the Portfolio Investment Scheme and subsequently sold through a registered broker on the stock exchange.

• Non Resident Ordinary (NRO)
  • It allows for inward remittances of foreign exchange via standard banking channels, enhancing the ease of Portfolio Investment Scheme money transfer operations.
  • Transfer from applicant’s other NRE accounts or FCNR accounts or NRO accounts maintained with AD bank in India;
  • Dividends or income generated from investments made through the PIS are also part of the financial transfers enabled by the PIS account, demonstrating its comprehensive coverage for investors.
  • The PIS account facilitates the transfer of net sale proceeds (minus applicable taxes) from shares and convertible debentures purchased on a repatriation basis under the Portfolio Investment Scheme and subsequently sold through a registered broker on the stock exchange.

• Non Resident External (NRE)
  • Any charges on account of sale/ purchase of shares or convertible debentures under PIS.
  • Outward remittances of dividend or income earned;
  • Amounts paid on account of purchase of shares and convertible debentures on repatriation basis on stock exchanges through registered broker under PIS.

• Non Resident Ordinary (NRO)
  • Any charges on account of sale/ purchase of shares or convertible debentures under PIS.
  • Outward remittances of dividend or income earned;;
  • Amounts paid on account of purchase of shares and convertible debentures on non- repatriation basis on stock exchanges through registered broker under PIS.