Mumbai-based pubilc sector lender IDBI Bank today announced the launch of its Portfolio Investment Scheme (PIS), a product that would enable non-resident Indians and people of Indian origin to invest in the secondary capital markest in India. The product would be available to existing customers of IDBI Bank as also other NRIs at designated branches of IDBI Bank across the country. IDBI Bank is one of the few Banks to offer this service.
Speaking on the occasion, C S Jain, Head – Personal Banking Group, IDBI Bank Ltd. said that the launch of the scheme complements the existing bouquet of products/services being offered by the bank to its NRI clientele. Debashish Mallick, Chief General Manager, mentioned that the bank would offer the product to NRIs/PIOs on both online and offline modes and they can invest either on repatriation or non-repatriation basis.
