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of <h1>RBI Revises Residential Status for Indian Students Abroad Under FEMA; Now Considered Non-Residents Due to Extended Stays.</h1> The Reserve Bank of India has revised the residential status of Indian students studying abroad under the Foreign Exchange Management Act (FEMA). Previously, students were considered residents if they stayed in India for more than 182 days in the preceding financial year. However, due to prolonged stays abroad for education, employment, or financial reasons, students often exceed this period and become financially independent. As a result, they are now treated as Non-Residents, acknowledging their intention to stay outside India for an uncertain period and their reduced financial dependence on remittances from India.
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