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  • Currently we are having Banking tie up with Axis/HDFC/YES/Federal/DCB/Indusind banks and will assist you for opening bank account.
  • Bank Charges

    PIS Issuance/Permission Fee

  • Fees charged by banks for issuing PIS permission on behalf of RBI to NRI clients. It is only applicable for NRE investment on NRE PIS Account.

  • Annual maintenance charges levied by bank for providing PIS services
  • PIS Reporting Charges

  • Charges levied by bank for doing settlement in bank account and reporting all trade to regulator.
  • Trade & Settlement Process

  • Banks will process the trade settlement transaction as per First in First out (FIFO) concept. Any capital gain arising will also be debited as per FIFO methodology Sale transaction for Rights/IPO/FPO/Bonus shares may be settled in saving bank account instead of PIS bank account as per bank process:
  • Trading Limit

  • Bank will share PIS account balance. Broker will provide trading limit.
  • Trade Executed

  • Broker executes the trade as per order received from client.
  • Bank Reporting

  • Broker will share the contract note to bank for RBI reporting on T/T+1.
  • Reporting Rejection

  • Bank will inform the broker/Client in case of any rejection.
  • Trade Settlement

  • Purchase transaction will settle on T+1. Sale transaction will settle on T+2.
  • TDS & Bank Charges

  • Bank will debit charges and TDS if any.