Federal Bank has tied up with Phillip Capital (India), a subsidiary of the Singapore headquartered Phillip Capital group. As per the partnership, Philip Capital will manage the NRI Portfolio Investment Scheme for Federal Bank. PIS, designated by Reserve Bank of India allow non-resident Indians and persons of Indian origin to invest in Indian equity markets for purchase of shares and convertible debentures listed on registered stock exchanges in India. With the tie up, the NRI clientele of Federal Bank can avail PIS, using the wide global network of Phillip Capital and their experience and expertise in providing consistent and world-class customer service.
