FEMA – RBI increased the limit for Transfer of security by way of gift in calendar year to USD 50,000

PrintPDF

A person resident in India who proposes to transfer, by way of gift, to a person resident outside India any security including shares/convertible debentures is required to obtain prior approval of the Reserve Bank. However, the value of security to be transferred together with any security transferred by the transferor, as gift, to any person residing outside India which was not to exceed the rupee equivalent of USD 25,000 during a calendar year has been enhanced to USD 50,000 per financial year.

RBI/2011-12/175
A.P. (DIR Series) Circular No. 14

September 15, 2011