Permissible Credits and Debits

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Portfolio Investments Scheme

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
Shares purchased through secondary market Stock Split	IPO Bonus Rights ESOPs Shares acquired on conversion of ADRs/GDRs Shares acquired under Direct Investment Schemes Shares purchased outside India from other NRI/OCB MF/Insurance Investments

Permissible Credits in PINs Accounts
- Inward Remittance through normal banking channels for the purpose of purchase of shares and convertible debentures (debenture transactions are not reported through PINS). The purpose of remittance shall be investments
- Transfer from own (or self) NRE/FCNR/NRO Accounts. (Transfer from NRE/FCNR accounts, if the shares are purchased on repatriation basis or Transfer from NRE/FCNR/NRO, if the shares are purchased on a non-repatriation basis)
- Sale proceeds of the shares acquired under PINS and sold on the stock exchange through a registered broker
Permissible Debits in PINS Accounts
- Transfer to own (or self) NRE/FCNR/NRO Accounts (Transfer to NRE/FCNR/NRO accounts, if investments are done on repatriation basis or Transfer to NRO account, if the investments are done on non-repatriation basis)
- Amount paid on account of purchase of shares on stock exchange/secondary market through a registered broker
- Margin money to broker as per SEBI requirements
- Any charges such as brokerage, STT, DP charges, PINS transaction charges etc.
- Dividend Income cannot be credited only clients Savings account NRE/NRO basis PINS account which was opened with the bank.
- Client cannot have only PINS account with the bank, he needs to open savings bank account with corresponding PINS account (Repatriation/Non-Repatriation)
- Dividend Income cannot be credited only clients Savings account NRE/NRO basis PINS account which was opened with the bank.
- Client cannot have only PINS account with the bank, he needs to open savings bank account with corresponding PINS account (Repatriation/Non-Repatriation)

Note

Dividend Income cannot be credited only clients Savings account NRE/NRO basis PINS account which was opened with the bank.
Client cannot have only PINS account with the bank, he needs to open savings bank account with corresponding PINS account (Repatriation/Non-Repatriation)

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.

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Frequently Asked Questions

What is Portfolio Investment Scheme (PINS)?

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.