Can NRI transfer shares to resident Indian?

An NRI can transfer shares to resident Indian by way of sale or gift. General guidelines about the transfer of shares from NRI to resident Indian:

No RBI permission required

1. To transfer shares acquired other than PIS route by way of gift.
2. To transfer shares acquired through PIS route to relatives as defined in Section 6 of Companies Act
3. For the sale of shares under private arrangement provided SEBI regulations and FEMA pricing guidelines are met.

RBI permission required

1. For the sale of shares under private arrangement where SEBI regulations and FEMA pricing guidelines are not met.
2. For transfer by way of gift or sale of shares under private arrangement acquired through PIS route.