RBI takes note! Overseas students used by parents to stash money

The RBI is scrutinizing the use of a 2003 foreign exchange regulation granting NRI status to Indian students abroad, aimed at tax and fund transfer benefits. The central bank considers refining guidelines to differentiate between legitimate students and those exploiting the policy transfers.

​The RBI is scrutinizing the use of a 2003 foreign exchange regulation granting NRI status to Indian students abroad, aimed at tax and fund transfer benefits. The central bank considers refining guidelines to differentiate between legitimate students and those exploiting the policy transfers.