NRIs to report the details of purchase/sale of shares/debentures under Portfolio Investment scheme immediately in form LEC to the designated branch where they are maintaining the PIS account. In case, gifted to resident close relative, same is to be reported to RBI in form FC-TRS. Shares /convertible debentures acquired under the Scheme can be transferred by way of gift to his close relatives as defined in Section 6 of the Companies Act, 1956. (Please click here for account opening form. )įor sale/ purchase of shares/ debentures on repatriation basis, NRIs are required to open an exclusive PIS (NRE) account. NRIs are required to open an exclusive PIS (NRO) account, if the shares/debentures are purchased/ sold on non repatriation basis. Resident Power of Attorney holder can be permitted to operate PIS account to facilitate investment under the scheme. Under Portfolio Investment scheme, NRIs may invest/ sale shares and convertible debentures of an Indian company, on Repatriation as well as Non repatriation basis through a registered broker of a recognised stock exchange by designating a Bank branch, subject to certain conditions.
Government dated securities/Treasury billsĮxchange traded derivative contracts approved by the SEBI, from time to time, out of INR funds held in India on non repatriable basis, subject to the limits prescribed by the SEBI. On Non repatriation Basis: NRIs may invest in the following on Non- repatriation basis, without any limit. Shares and convertible debentures of Indian companies through stock exchange under Portfolio Investment Scheme. Shares and convertible debentures of Indian companies under FDI scheme (including automatic route & FIPB). Shares in Public Sector Enterprises being disinvested by the Government of India, provided the purchase is in accordance with the terms and conditions stipulated in the notice inviting bids. Perpetual debt instruments and debt capital instruments issued by Banks in India
Non-convertible debentures of a company incorporated in India Government dated securities / Treasury billsīonds issued by a Public Sector Undertaking (PSU) in India On Repatriation Basis: NRIs may invest in the following on repatriation basis, without any limit. Non resident Indians can invest in India on repatriation as well as Non repatriation basis. Sustainable Development and Corporate Social Responsibility (SD-CSR).Appeal to Physical Shareholders of Canara Bank.
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