A Non-Resident Indian (NRI) can invest in the Indian stock market by purchasing shares through the Portfolio Investment Scheme (PIS) on a repatriation and non-repatriation basis. Also, the PIS scheme is a part of the Reserve Bank of India (RBI) that enables NRIs to acquire shares or convertible debentures from the stock exchange through a bank account with a nominated branch. However, as per the latest guidelines, the PIS scheme is not required for NRO (Non-Resident Ordinary) as they will be treated as investments by residents.
