What is a PIS Letter and how can an NRI obtain it?

What is a PIS Letter and how can an NRI obtain it?

A PIS (Portfolio Investment Scheme) Letter is a bank-issued document confirming the NRI's PIS account details for undertaking eligible investments in Indian listed securities through the PIS route. 

NRIs can obtain the PIS Letter from the designated bank branch where their PIS account is maintained or is proposed to be opened. Only RBI-authorized designated branches can administer PIS transactions.  

PIS Letter – Key Points: 

  • NRE PIS Account: A PIS Letter is required, as RBI permission is applicable for investments through the PIS route.  

  • NRO PIS Account (Optional): A PIS Letter may also be required for PIS transactions; the applicable requirement should be confirmed with the designated bank.  

  • The PIS Letter should mention the specific designated branch address authorized to handle PIS transactions.  

  • The branch mentioned should be the branch where the PIS account is maintained or intended to be opened.  

  • The PIS Letter can be obtained from the respective designated bank.  

Banks with designated PIS facilities: Axis Bank, ICICI Bank, HDFC Bank, IDFC, and Indusland are subject to their current PIS services and designated-branch availability. 

PIS Letter Support

Get assistance with PIS letter requirements, designated bank branches, and the PIS registration process.

Have a Question?

Click here for assisted service.