Portfolio Investment Scheme (PIS) is a scheme of the Reserve Bank of India (RBI) defined in Schedule 3 of Foreign Exchange Management Act 2000 that enables NRIs and OCBs to purchase and sell shares and convertible debentures of Indian companies on a recognized stock exchange by routing all such purchase/sale transactions through their NRI Savings Account with a designated bank branch. For this purpose, the NRI/PIO has to apply to a designated branch of a bank, which deals in Portfolio Investment.
Modified on: Fri, 1 Sep, 2017 at 11:59 AM
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