Understanding RBI's Portfolio Investment Scheme for NRIs with FYERS

What is the Portfolio Investment Scheme for NRIs?

The Portfolio Investment Scheme (PIS) is a program from the Reserve Bank of India (RBI) that permits Non-Resident Indians (NRIs) to purchase and sell shares and convertible debentures of Indian companies on recognized stock exchanges under the repatriation or non-repatriation category.
Key Aspects of PIS Accounts:
  • Exclusive for Equity: The PIS account is designated solely for equity delivery trades on Indian stock exchanges.
  • Restricted Trading Segments: NRIs are not authorized to engage in other market segments such as Equity Futures & Options, Currency, Commodities, or Mutual Funds under PIS.
  • RBI Oversight: All transactions made through a PIS account are reported to the RBI, ensuring compliance with regulatory norms.
  • Repatriation of Funds: The PIS account allows for the remittance of funds in foreign currency, with the provision for repatriation of these funds.
  • Non-Interchangeability: Shares purchased through PIS cannot be sold through Non-PIS accounts, maintaining clear segregation of investments.
At FYERS, you have the flexibility to open both NRE PIS and NRO PIS accounts.
To take the first step towards leveraging the benefits of the PIS with FYERS, kindly start the NRI account opening process by entering your details here.

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