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)]

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....io Investment Scheme through a branch designated by an Authorised Dealer for the purpose; b. The paid-up value of shares of an Indian company purchased by any individual NRI should not exceed  five percent of the paid-up value of shares issued by the company concerned;  c. the paid-up value of convertible preference shares or convertible debentures of any series purchased by any individual NRI on repatriation basis should not exceed five percent of the paid-up value of convertible preference shares or convertible debentures of that series issued by the company concerned;  d. the paid-up value of warrants of any series purchased by any individual NRI on repatriation basis should not exceed five percent of the paid-up value of warrants of that series issued by the company concerned;   e. the aggregate paid-up value of shares of any company purchased by all NRIs on repatriation basis should not exceed ten percent of the paid-up value of shares of the company and the aggregate paid-up value of each series of convertible preference shares or convertible debentures or warrants purchased by all NRIs should not exceed ten percent....

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....gn exchange though normal banking channels;  b. Transfer from the NRI's other NRE accounts or FCNR (B) accounts maintained with Authorised Dealer in India;  c. Net sale proceeds (after payment of applicable taxes) of shares / convertible preference shares /convertible debentures /warrants/ units acquired on repatriation basis under the Scheme and sold on stock exchange through registered broker; and  d. Dividend or income earned on investment made on repatriation basis under the Scheme  Debits a. Outward remittances of dividend or income earned;  b. Amounts paid on account of purchase of shares /convertible preference shares/ convertible debentures / warrants/ units on repatriation basis on stock exchanges through registered broker under the Scheme; and  c. Any charges on account of sale / purchase of securities or units under the Scheme.  d. Remittances outside India or transfer to NRE / FCNR (B) accounts of the account holder of the NRI or any other person eligible to maintain such account. 5. Saving The existing NRO (PIS) accounts may be re-designated as NRO account.] &n....

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....n repatriation basis and by inward remittance or out of funds held in NRE/FCNR/NRO/NRNR/NRSR account of the ^1[NRI concerned maintained in India where the shares/debentures are purchased on non-repatriation basis;" 9. Substituted vide Notification No. FEMA. 261/2013-RBI dated 27-02-2013, before it was read as, "2. Report to Reserve Bank ^5[The link office of the designated branch of an authorised dealer referred to in paragraph 1 shall furnish to the Chief General Manager, RBI, ECD, Central Office, Mumbai, a report on daily basis on PIS transactions undertaken by it, such report to be furnished on line or on floppy or in hard copy in a format supplied by Reserve Bank." 10. Substituted vide Notification No. FEMA. 261/2013-RBI dated 27-02-2013, before it was read as, " ^6[3. Remittance/credit of sale/maturity proceeds of shares and/or debentures. The net sale/maturity proceeds (after payment of taxes) of shares and/or debentures of an Indian company purchased by NRI [***] under this scheme, may be allowed by the designated branch of an authorised dealer referred to in paragraph 1, a. to be credited to NRO accoun....

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....ery of the shares purchased and gives delivery of shares sold; (vi) ^8[***] (vii) ^4[****] ^9[2. Report to Reserve Bank The link office of the designated branch of an authorized dealer referred to in paragraph 1 shall obtain a Unique Code number from the Reserve Bank. The said link office of the designated branch of an authorized dealer shall furnish to the Chief General Manager-in-Charge, Foreign Exchange Department, Reserve Bank of India, Central Office, Mumbai, a report on daily basis on PIS transactions undertaken on behalf of NRIs for their entire bank under the Online Report Filing System (ORFS). The said link office shall be responsible to ensure that the data submitted to the Reserve Bank is reconciled by periodically taking a NRI holding report for its bank.] ^10[3. Maintenance of accounts by an NRI for routing transactions for purchase and sale of shares/convertible debentures An NRI may open a separate sub-account of NRE/NRO account (opened and maintained by Authorised Dealer bank in terms of the Foreign Exchange Management .(Deposit) Regulations, 2000) with a designated branch of an Authorized Dealer bank referred to....