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of <h1>India Doubles Permissible Gift Value of Securities to Non-Residents; RBI Approval Still Required.</h1> The circular addresses the liberalization of foreign investments in India, specifically regarding the transfer of securities by way of gift. It highlights that individuals residing in India wishing to gift securities to non-resident Indians or persons of Indian origin must seek prior approval from the Reserve Bank of India. The permissible value of such transfers has been increased from USD 25,000 to USD 50,000 per financial year. All other existing conditions under the Foreign Exchange Management Regulations, 2000 remain unchanged. Authorized banks are instructed to inform their clients of these updates, issued under the Foreign Exchange Management Act, 1999.
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