RBI Says You Can’t Buy Property Abroad or Gold Coins, Increases Capital Controls

Date August 14, 2013

The RBI has now introduced more capital controls in order to protect the rupee from sliding further. The Rupee closed at about Rs.61.4 to a dollar on Wednesday. In an announcement, they have taken many measures to try and curb the outflow of dollars.

You can invest only $75K abroad per year, down from $200K

The earlier limit of $200K was perhaps too much? But it really wasn’t that much, and this limit change will hurt some individuals who’d buy. Also this is now the limit for gifts, for loans to NRIs by family and for outward remittances. And …

Original Source: http://capitalmind.in

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