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of <h1>India Allows Residents to Gift Up to USD 200,000 to NRI Relatives Annually via LRS.</h1> Resident individuals in India are permitted to gift rupees to their close NRI or PIO relatives through crossed cheque or electronic transfer, with the amount credited to the recipient's NRO account. This gift is subject to a limit of USD 200,000 per financial year under the Liberalised Remittance Scheme (LRS). The resident donor must ensure compliance with the LRS limit, including all remittances for the year. Amendments to relevant Foreign Exchange Management regulations will be issued separately. Banks authorized to deal in foreign exchange should inform their customers of these guidelines, issued under the Foreign Exchange Management Act, 1999.
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