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of <h1>RBI Amends Regulations: NRIs and PIOs Can Remit Up to $100,000 Annually from Inherited Assets in India.</h1> The Foreign Exchange Management (Remittance of Assets) (Amendment) Regulations, 2002, issued by the Reserve Bank of India, modifies the original 2000 regulations. Key changes include defining a Non-Resident Indian (NRI) as a person residing outside India who is an Indian citizen. The amendment allows NRIs and Persons of Indian Origin (PIOs) to remit up to US$ 100,000 per calendar year from inherited assets in India, contingent upon providing documentary evidence and a tax clearance certificate. Remittances exceeding this limit require the same authorized dealer for all installments. Authorized dealers can process remittances without Reserve Bank approval under specified conditions.
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