Ans. Students going abroad for studies are treated as Non- Resident Indians (NRIs) and are eligible for all the remittance facilities available to NRIs under FEMA. As non-residents, they will be eligible to receive following remittances from India:
a. up to USD 100,000 from close relatives in India, on self-declaration, towards maintenance, which could include remittances towards their studies
b. up to USD 1 million per financial year, out of sale proceeds of assets / balances in their NRO account maintained with an Authorised Dealer bank in India and
c. Individual may avail of exchange facility under LRS for an amount in excess of USD 250,000, if it is so required.