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When Resident becomes NRI and informs bank, then his regular demat account is converted into NRO demat account. Is RBI supposed to be informed about value of his holdings or whether it is more than 5% paid up capital of the companies whose shares he is now holding under NRI status? My follow up question is can shares be gifted without any RBI limits from one NRO demat account to a relative’s NRO demat account (both parties are NRIs)?

I AM ALSO WAITING FOR THE REPLY.

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