Hi there. I can help you with the NRI fund transfer rules. I am an NRI too and have been doing fund transfers from the US for a couple of years. There are quite a lot of rules when it comes to transferring money. I am listing down some of the most important rules that the RBI has set for NRIs. You can find them below in detail.
NRI Money Transfer Rules in India
Here are the rules for NRI money transfer:
The maximum amount that can be transferred from an NRO account outside of India is dependent in large part on the source of funding.
Up to 1
million dollars may be remitted by an NRI every fiscal year from the balances in their NRO account. The cap is applicable to money from other sources other than the current income.
There is no limit on the amount of current income that can be sent overseas from an NRO account.
There are also no sorts of restrictions on the amount of current income that can be sent to India.
The RBI needs to give its clearance before an NRI can transfer funds to or from an NRO account outside of India.
I hope you now have a good understanding of the RBI rules for NRI money transfer
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What is NRI Fund Transfer Rules?
vihan
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2024-12-02T15:08:11+00:00 2024-12-02T15:08:12+00:00Comment
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