PORTFOLIO INVESTMENT SCHEME
Trade on recognised Indian stock exchanges under the Portfolio Investment Scheme (PIS) through designated branches of HDFC Bank from any corner of the world.
Application For PIS Permission
RBI has delegated powers to designated branches of authorised dealers to issue permission for Portfolio Investment Scheme. HDFC Bank has designated branches at -
- Tulsiani Chambers, Nariman Point, Mumbai
- ITC Centre, Chennai
- Surya Kiran Branch, Delhi
- Lakdikapul, Hyderabad
- Ravipuram, Cochin
- M G Road, Bangalore
- Ashram Road, Ahmedabad
Apply for PIS permission through HDFC Bank on submitting the following documents -
- RPI/NRI Form duly filled and signed by all the holders. Details of all shares purchased through the primary market to be enclosed
- PIS application form
- PIS tariff sheet
- Demat holding statement
Forms duly filled have to be enclosed with the Demat Account opening form and submitted at the designated branch.
Does an NRI require PIS permission to purchase shares in primary market (IPOs) on repatriable basis?
No, as an NRI you can purchase shares in primary market on repatriable basis and application money can be paid through regular NRE SB Account or through inward remittance.
Does an NRI require PIS permission to purchase shares in primary market (IPOs) on non - repatriable basis?
No, as an NRI you can purchase shares in primary market on non-repatriable basis and application money can be paid through regular NRE/ NRO SB Account or inward remittance.
Do NRIs require PIS permission to sell shares which were purchased in primary market (IPOs) on repatriable / non repatriable basis?
Do NRIs require PIS permission to sell shares which were allotted as rights / bonus basis, on the shares which were originally purchased in primary market (IPOs) on repatriable/ non repatriable basis?
Can NRIs receive shares in inheritance?
Yes, as an NRI you can receive shares in inheritance. RBI permission is not required to be obtained and the shares will be held on non-repatriable basis.
What is the status of shares purchased in primary market/secondary market as a resident Indian, once the customer becomes a Non-Resident?
The shares purchased through primary / secondary market as a resident will be held on non-repatriation basis. Once the customer becomes an NRI, these shares can be credited to NRO DEMAT Account. These shares can be sold in secondary market without PIS permission. The sale proceeds can be credited to NRO SB Account after payment of capital gain taxes.