RBI takes note! How overseas students are being used by wealthy parents to stash money abroad – The Times of India
RBI’s 2003 regulation granted ‘non-resident Indian’ (NRI) status to overseas students. (AI image) The Reserve Bank of India (RBI) is reportedly examining the utilisation of a two-decade-old foreign exchange regulation that was initially established to assist Indian students studying abroad. Students have been quietly facilitating international money transfers for years, a practice that is now…