Hi friends. This query is wrt banking transactions pertaining to Indian market.

I wanted to know as to whether there is any cap on the upper limit of amounts credited to individual accounts for indian citizens using services of foreign banks within India.
As in,'What can be the maximum amount that can be credited to any bank account of an individual through one single transaction at one time ? if the transaction is local and what in case the amount is being trasferred from overseas.

Can a NRI directly send a huge amount to an individual savings account or does it have to be sent to an NRI/E account only?