Portfolio Investment Schemes
Invest and earn from the Indian secondary market, effortlessly.
You can now invest in equity shares and convertible debentures of Indian companies in the secondary market on a repatriation or non-repatriation through a registered stock broker on a recognized stock exchange in India under the Portfolio Investment Scheme (PINS). With the Kotak Group of financial services, your transactions are seamless across accounts. It is easier than ever to invest and earn from the Indian secondary market through a PINS account designed for NRIs by the Reserve Bank of India.
As per RBI guidelines, NRIs should have a separate bank account exclusively for PINS purposes and all transactions relating to shares purchased or sold should be routed through this account and it should not be allowed to carry any other transaction which is not related to trading of shares.
Available in both NRE as well as NRO accounts
Average Monthly Balance (AMB) waived account
Free Net Banking access from anywhere and at any time
Cheque Book issued (only in Offline PINs set up)
Mandate facility is available (only in Offline PINs set up)
Joint holding is permissible
|Transaction covered under Portfolio Investment Schemes||Transactions excluded from Portfolio Investment Schemes|
To open a Portfolio Investment Scheme (PIS) Account, the customer has to visit any designated bank that is authorized to issue PINS permission letter on behalf of Reserve Bank of India. Kotak Mahindra Bank is one of the designated banks.
Portfolio Investment Scheme (PINS) allows Non Resident Indians (NRIs) or Persons of Indian Origin (PIO) to invest in shares or convertible debentures (sale or purchase) of an Indian company in the secondary market on repatriation or non-repatriation basis through registered stock broker on a recognized stock exchange, subject to terms and conditions as specified in FEMA.
No, PINS account is mandatory only once the transactions are routed through secondary market. In case of purchase of shares in primary market on repatriation basis, the application money can be paid through NRE accounts or inward remittance through normal banking channel.
No, PINS account is mandatory only once the transactions are routed through secondary market. In case of purchase of shares in primary market on non-repatriation basis, the application money can be paid through NRE/NRO accounts or inward remittance through normal banking channel.
No, NRIs don’t require PINS account to sell shares, purchased in primary market (IPOs) on repatriable/non-repatriable basis.
No, NRIs don’t require PINS account to sell shares, which were allotted as rights/bonus on the shares originally purchased from primary market (IPOS) on repatriable/non-repatriable basis.