Portfolio Investment Scheme (PIS) is a scheme of the Reserve Bank of India (RBI) through which NRIs and PIOs can purchase and sell shares and convertible debentures by routing the transactions through their account held with a Designated Bank Branch.
Transactions covered under PIS:
- Fresh purchase from the secondary market as an NRI.
- Sale of shares, which were bought under PIS.
PIS does not allow transactions in IPOs, Mutual Funds, Derivatives and sale of shares acquired on residential basis.