LIBERALISED REMITTANCE SCHEME

    • It is a scheme introduced by RBI in 2004.
    • It aims to streamline the process of remitting of funds outside India.
    • All resident individuals can remit upto $250000 per financial year for any permission current/capital account transaction.
    • It is not for corporates, partnership firms, HUF, trusts etc.
    • Recently, finance ministry has permitted the use of credit card along with debit card.
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