Portfolio Investment Scheme Account

• Portfolio Investment Scheme (PIS) Account allows NRIs to invest in shares of Indian companies under repatriation or non-repatriation basis.
• They can now buy and sell shares or convertible debenture through a registered stock broker on a recognised stock exchange in India

The account will assist NRIs in getting their transaction done in a smooth, seamless and hassle-free manner. Any other modes of acquiring shares are not covered in this scheme such as shares purchased through IPOs, as residents, bonus shares etc.

Low cost of transaction

Seamless reporting to RBI and complying with all statutory regulations on your behalf

Calculation of capital gains tax and issuance of tax deduction certificate

Mandate of Power of Attorney facility is available so that in your absence from the country you can authorise your relative or friend to operate conduct banking transactions on your behalf.

24x7 account access through secure internet banking facility and free iConnect

• In order to provide distinctive customer solution and improve customer experience, we have now started providing Set off facility within a contract note from April 1, 2014.
• The set off will be provided only for equity transactions within a contract note.
• The Bank will be able to set off losses against capital gains on equity shares only.
• The benefit of set off of losses is available per contract note basis (i-e: losses made in one contract note can be set off against the gains made within that contract note only).
• The bank will report purchase and sale contract notes on FIFO basis recorded with the bank and compute capital gain tax accordingly.

Set Off Facility Case Studies