Portfolio Investment Scheme (PINS) allows NRIs to undertake delivery based trading in shares of Indian companies (as governed by RBI) in the secondary market. The investment can be made under repatriation or non repatriation basis in terms of shares purchased or sold through Reliance Securities on NSE/BSE.

A PINS a/c is required for routing the transaction of any investments which will happen through the Non Resident External (NRE) or Non Resident Ordinary (NRO) savings account. This will be available with the same banker where the NRE or NRO bank account lies.
Reliance Securities has an exclusive tie-up with Yes Bank & Axis Bank. NRI customers can select any bank of their choice to open bank accounts. For share trading with Reliance Securities you would require:

•  NRI Trading Account (for Delivery trading on BSE/NSE/MFSS/BSE STAR for Mutual Funds)           •  NRI Demat Account (for Demat Holdings purchased and sold)           •  NRE PINS linked Bank account with any one (Yes Bank or Axis Bank) for investing in Equity/Mutual Fund segment

Account Type	Remarks	Equity Investments through Secondary Market (BSE/NSE)	Futures & Options Investments through Secondary Market	IPO	Mutual Funds (Offline) & ETF through Exchange	Mutual Funds through Exchange*
NRE PINS	Account with    repatriation benefit	✓	X	X	X	✓

✓	Allowed as per RBI & SEBI guidelines
X	Not allowed as per RBI & SEBI guidelines	*Subject to RBI approval, RBI clarity awaited

Non Resident External (NRE) account is a Rupee denominated account. NRE accounts can be opened by NRIs and it allows repatriation of funds. This means that the funds can be freely sent to any other country. An NRE account can contain funds remitted from abroad, or obtained from another NRE / FCNR account maintained in India. Funds can be transferred from an NRE account to a Non Resident Ordinary (NRO) account without any restriction. The interest earned on deposits in an NRE account is exempted from tax in the hands of the NRI. If the NRI holding the NRE account returns to India and becomes a resident of India, the NRE account is converted into a regular resident account.

A Non Resident Ordinary (NRO) account is a Rupees denominated account. NRO accounts can be opened by NRIs, regular bank accounts of a person, who becomes an NRI, also get converted into NRO accounts. NRI can repatriate up to $ 1 million, for bonafide purposes, per financial year from balances in NRO Accounts subject to payment of applicable taxes. The limit of $ 1 million per year includes sale proceeds of immovable properties held by NRIs/PIO (Person of Indian Origin) for a period of 10 years. In case a property is sold after being held for less than 10 years, remittance can be made if the sale proceeds have been held by the NRI/PIO for the balance period in eligible investments. If the NRI holding the NRO account returns to India and becomes a resident of India, the NRO account is converted into a regular resident account.