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Portfolio Investment Scheme
Enables NRIs to purchase and sell shares and convertible debentures of Indian companies on a recognized stock exchange.
Requirement
- For any transaction in secondary market on repatriable basis, you will require an NRE Savings Account with ICICI Bank .
- For any transaction in secondary market on non-repatriable basis, you will require an NRO Savings Account with ICICI Bank.
- Submit PIS application form in prescribed format for designating the Savings Account as PIS Account on repatriation/non-repatriation basis.
Send the completed document/s to:
To,
The Manager,
ICICI Bank Limited,
Portfolio Investment Services Cell
215, Free Press House
Nariman Point Branch,
Mumbai, Maharashtra
India - 400 021.
E-mail: pins@icicibank.com
PIS FAQ's
The repatriation of the sale proceeds are allowed if the original purchase was made on repatriation basis and the sources of investment were from NRE/FCNR account or by means of remittance from abroad. If the original purchase was made from NRO a/c then the sale proceeds are not repatriable.
Yes. Investment can be made on repatriation as well as non-repatriation basis. However, the investor will have to open NRE account as well as NRO account with the Designated Bank. The sale proceeds of non-repatriable investment can be collected in NRO A/c only.
