Federal Bank has inked pact with Phillip Capital (India), a subsidiary of the Singapore headquartered Phillip Capital group, for managing the NRI Portfolio Investment Scheme (PIS). The tie up will be add a significant value to the NRI clientele of the bank, particularly those in the non-Gulf cooperation council countries, who can now avail PIS using the wide global network of Phillip Capital and their experience and expertise in providing consistent and world-class customer service.
PIS is a route designated by the Reserve Bank of India for Non-Resident Indians ( NRIs) and Persons of Indian Origin (PIOs) to invest in Indian Equity Markets for purchase of shares and convertible debentures listed on registered stock exchanges in India.
Federal Bank is a major Indian commercial bank in the private sector headquartered at Aluva, Kerala having more than thousand branches and ATMs spread across different States in India.
