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The structural, magnetic, magnetocaloric, and transport properties of Ni50Mn35In15-xBix (x = 0, 0.25, 0.5, 1, 1.5) compounds has been studied through X-ray diffraction (XRD), differential scanning calorimetry, and magnetization measurements. A mixture of high temperature austenite phase (AP) and low temperature martensitic phase (MP) was observed from the XRD at room temperature. The saturation magnetization MS at 10 K was found to decrease with increasing Bi content. A shift in the martensitic transition temperature (TM) relative to the parent compound was observed with a maximum shift of ∼ 36 K for x = 1.5. Abnormal shifts in TC and TM to higher temperatures were observed at high field for x ≥ 0.5. Large magnetic entropy changes (ΔSM) of about 40 J/kg K (x = 0) and 34 J/kg K (x = 0.25) were observed at TM with H = 5 T, which reduced significantly for higher Bi concentrations. The doping of small amounts of Bi in the In sites increased the peak width of the ΔSM curves at the second order transition, leading to larger values of relative cooling power. A significant magnetoresistance (-30%) was observed near TM with ΔH = 5T for x = 0.5.