Ask, Answer & Discover

Q: Can I transfer money from NRO account to a foreign bank?

A: RBI has now permitted transfer of money from NRO account to NRE account subject to the submission of required documents and subject to the total amount of funds transferred to NRE account and/or...

• 22 Days ago
• Money Transfer - Business and Finance
• See Answer

Q: How much money can NRI transfer to India in one year?

A: There is no limit on sending money from the USA to India, provided you pay required taxes. But, there is a limit of US $14,000 per person per year and for gift tax is a free transaction. Any amount...

• 36 Days ago
• Money Transfer - Business and Finance
• See Answer

Q: How much money can an NRI repatriate?

A: Interest earned and balances held in NRE and FCNR accounts are not taxed and can be freely repatriated abroad. RBI allows NRIs to transfer money of $1million per financial year from NRO to NRE...

• 43 Days ago
• Money Transfer - Business and Finance
• See Answer

Q: How much money can an NRI send to India?

A: There is no limit on sending money from the USA to India, provided you pay the required taxes. But, there is a limit of US $14,000 per person for a gift tax-free transaction. Any amount sent above...

• 43 Days ago
• Money Transfer - Business and Finance
• See Answer

Q: How much money can NRI transfer out of India?

A: The limit to the amount brought from India is $1million per the calendar year, including all other capital account transactions. Even NRIs can petition to the RBI for an increase in the...

• 43 Days ago
• Money Transfer - Business and Finance
• See Answer

Q: Can NRI transfer money out of India?

A: Interest earned and balances held in NRE and FCNR accounts are not taxed and can be freely repatriated abroad. RBI allows NRIs to transfer money from NRO to NRE account, subject to the overall...

• 43 Days ago
• Money Transfer - Business and Finance
• See Answer

Q: Can money be transferred from NRO account to NRE account?

A: No, money cannot be transferred from NRO account to NRE account.

• 44 Days ago
• Money Transfer - Business and Finance
• See Answer

Q: Can NRI use their Indian saving accounts for sending money from abroad?

A: NRIs can send money from foreign countries to NRE account as well as NRO accounts. As per FEMA requirement, a person resident out of India can only have non-resident accounts and cannot have...

• 62 Days ago
• Money Transfer - Business and Finance
• See Answer

Q: I have PIO card issued in 2011like apassport type prints. is it valid to travel to India?

A: *The government of India has notified that all existing PIO card holders shall be deemed to overseas citizens of Indian cardholder (merger of PIO to OCI) *Until applicants are in receipt of an OCI...

• 65 Days ago
• Others - Business and Finance
• See Answer

Q: Can NRI transfer money to resident Indian?

A: NRIs don't have to pay taxes when they transfer money to India. ... For instance, if you are sending money for investment, it is recommended to open NRE savings account for fund transfer. This is...

• 110 Days ago
• Money Transfer - Business and Finance
• See Answer