Economics · Portfolio Investment Scheme (PIS) for NRIs
Under the Portfolio Investment Scheme (PIS) for Non-Resident Indians (NRIs), which operational requirement is mandatory for an NRI who wishes to trade in shares and debentures of Indian companies on a repatriation basis through a stock exchange in India?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Purchase of shares can only be done through a Resident Indian Power of Attorney holder who must be a close relative of the NRI.
- 2The NRI must obtain a specific PIS license directly from SEBI before opening a demat account.
- 3The NRI can use any existing NRE or NRO savings account for trading, provided they report each transaction to the RBI within 24 hours.
- 4The NRI must maintain a single dedicated NRE (PIS) account with an Authorized Dealer bank for all purchase and sale transactions involving shares.✓
Correct answer
The NRI must maintain a single dedicated NRE (PIS) account with an Authorized Dealer bank for all purchase and sale transactions involving shares.
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