Non resident Indians can invest in India on repatriation as well as Non repatriation basis.
On Repatriation Basis: NRIs may invest in the following on repatriation basis, without any limit.
Government dated securities / Treasury bills
Units of domestic Mutual funds
Bonds issued by a Public Sector Undertaking (PSU) in India
Non-convertible debentures of a company incorporated in India
Perpetual debt instruments and debt capital instruments issued by Banks in India
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.
Shares and convertible debentures of Indian companies under FDI scheme (including automatic route & FIPB).
Shares and convertible debentures of Indian companies through stock exchange under Portfolio Investment Scheme.
On Non repatriation Basis: NRIs may invest in the following on Non- repatriation basis, without any limit.
Government dated securities/Treasury bills
Units of domestic Mutual funds
Units of Money Market Mutual Funds
National Plan/Savings Certificates
Non-convertible debentures of a company incorporated in India
Shares and convertible debentures of Indian companies through stock exchange under Portfolio Investment Scheme.
Exchange 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.
PORTFOLIO INVESTMENT SCHEME( PIS)
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.
Salient features of the Scheme:
Resident Power of Attorney holder can be permitted to operate PIS account to facilitate investment under the scheme.
NRIs are required to open an exclusive PIS (NRO) account, if the shares/debentures are purchased/ sold on non repatriation basis. (Please click here for account opening form.)
For sale/ purchase of shares/ debentures on repatriation basis, NRIs are required to open an exclusive PIS (NRE) account. (Please click here for account opening form.)
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. In case, gifted to resident close relative, same is to be reported to RBI in form FC-TRS.
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.
NRIs can deal with only one Designated Bank branch for PIS purpose.
Our Branches in following cities are designated to handle Portfolio Investment Scheme:
Sno.
City
Branch Name & Address
Contact Details
1.
AHMEDABAD
NAVRANGAPURA BRANCH
P B NO. 4035 NEAR POLICE STATION AHMEDABAD 380009, GUJARAT
Non resident Indians are permitted to invest in Indian stock market and can trade through registered stock Brokers. NRIs of all countries, where their local laws do not prohibit online trading, may avail the facility provided by our subsidiary, Canara Bank Securities Limited (CBSL. This facility is not available to NRIs residing in USA.
For details of 3 in 1 accounts (containing Demat and Trading account, apart from PIS account) offered by CBSL, please click on the following link.
NRIs may acquire immovable property in India, other than agricultural land/ plantation property or a farm house out of repatriable and non-repatriable funds.
Housing Loan in rupees availed of by NRIs from ADs / Housing Financial Institutions can be repaid by the close relatives of the borrower in India.
Customers are requested to call on our mentioned Toll Free Numbers only for any complaints/issues. Bank shall not be responsible for any consequences arising out of customers calling any other unverified numbers.