RBI RAISE THE LIMIT OF GIFT TRANSFER BY NRI

Reserve Bank of India has raised the limit of gift transferred by non resisent of India to the resident of India. This is the good news for NRI as well as residents of India as it will be easy to get the money from close relatives in need. Earlier the limit was $25000, which is increased to $50000, the gift transferred to non resident to indian resident as a close relative.