About Portfolio Investment Scheme
- PIS allows NRIs to invest in shares of Indian companies, in secondary market, under repatriation basis (NRE) on a recognized stock exchange.
- NRIs can invest directly through NRO Savings Bank (SB) account on non-repatriation basis.
- NRIs cannot maintain multiple PIS accounts with different banks.
- Shares purchased under PIS route cannot be transferred off market or by way of gift to a person resident in India or outside India without prior approval of RBI.
- PIS account is used for settling funds arising our of sale/purchase transactions.