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        FEMA

        SCHEDULE 03 - Purchase/sale of shares and/or convertible debentures by an 1NRI on a Stock Exchange In India on repatriation and/or non-repatriation basis under Portfolio Investment Scheme - [See Regulation 5 (3) (i)]

        Foreign Exchange Management (Transfer or Issue Of Security By A Person Resident Outside India) Regulations, 2000

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        Portfolio Investment Scheme governs NRI purchase and sale of listed securities with designated bank routing and reporting obligations. Portfolio Investment Scheme permits NRIs to purchase and sell listed securities and units through a designated branch of an Authorised Dealer, subject to individual and aggregate shareholding limits, delivery obligations, and compliance with FDI sectoral caps. NRIs must route PIS transactions through designated NRE(PIS) or NRO(PIS) sub-accounts; permitted credits and debits for each account type are specified. The designated branch must report transactions to the Reserve Bank and ensure reconciliation and prevention of non-PIS proceeds being credited to PIS accounts.
                  Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
                    Provisions expressly mentioned in the judgment/order text.

                        Portfolio Investment Scheme governs NRI purchase and sale of listed securities with designated bank routing and reporting obligations.

                        Portfolio Investment Scheme permits NRIs to purchase and sell listed securities and units through a designated branch of an Authorised Dealer, subject to individual and aggregate shareholding limits, delivery obligations, and compliance with FDI sectoral caps. NRIs must route PIS transactions through designated NRE(PIS) or NRO(PIS) sub-accounts; permitted credits and debits for each account type are specified. The designated branch must report transactions to the Reserve Bank and ensure reconciliation and prevention of non-PIS proceeds being credited to PIS accounts.


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