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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:

  1. Fresh purchase from the secondary market as an NRI.
  2. 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.