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of <h1>Residents allowed up to USD 250,000 annual remittances for permitted transactions, subject to PAN/Form A2/KYC, reporting, and restrictions</h1> Authorised persons may permit resident individuals (including minors) remittances up to USD 250,000 per financial year for permitted current or capital account transactions (including study, medical, private visits, gifts, opening foreign currency accounts, ODI/OPI subject to overseas investment rules), subject to PAN, Form A2, KYC/AML, and documentation requirements. Prohibited transactions, remittances to FATF-identified non-cooperative jurisdictions, and credit to facilitate capital remittances are barred. Loans/gifts to NRI/PIO relatives must meet specified conditions and be credited to NRO accounts. Unused foreign exchange must be repatriated/surrendered within 180 days; ADs must report transactions and maintain records.
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