10C.29
- Document type
- Manual
- Dated
- Category
- Exchange Management Manual
Transfer of Rupee Securities to Non-residents as Gifts
Transfer of rupee shares/securities by residents to non-residents by way of gift requires prior approval of Reserve Bank. Applications for such transfers should be made to the concerned Office of Reserve Bank and should, inter alia, contain the following information:
(a)Name, address and permanent place of residence of both the transferor and the transferee.
(b)Relationship between the transfer or and the transferee.(c)Reason for making the gift.