Receipt From, and Payment to, A Person Resident Outside India - Amendment in Notification No. FEMA 16/2000-RB Dated 3-5-2000

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.... 237/2012-RB Dated 25-9-2012 G.S.R. 894(E),-In pursuance of the provisions of section 3 of the Foreign Exchange Management Act, 1999 (42 of 1999), and in partial modification of its Notification No. FEMA16/2000-RB, dated May 3, 2000 (hereinafter referred to as 'the said Notification'), the Reserve Bank hereby directs that the said Notification shall with effect from September 16, 2011@ b....

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....t the gift amount being credited is under the LRS and all the remittances/credits under the LRS during the financial year including the gift amount have not exceeded the limit prescribed thereunder. Loan in Rupees to non-resident (5) A resident individual may grant loan in rupees to a NRI relative by way of crossed cheque/electronic transfer subject to compliance with the Regulation 8B of the Fo....