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Introducing the “In Favour Of” filter in Case Laws.
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of <h1>RBI Updates Rules for Gifting Securities to Non-Residents: Approval Needed, Limits Set, Banks to Inform Customers.</h1> The Reserve Bank of India (RBI) has revised the procedure for transferring securities as gifts from residents in India to non-residents. Approval from the RBI is required, and applications must include specific documents and information. The RBI will consider eligibility, sectoral caps, and the relationship between parties, among other factors. The gift must not exceed 5% of the company's paid-up capital or USD 25,000 annually. Amendments to the Foreign Exchange Management Regulations have been made to incorporate these changes. Authorized banks are instructed to inform their customers of these updates.
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