Liberalised Remittance Scheme (LRS)
The Liberalised Remittance Scheme (LRS) is a facility provided by the Reserve Bank of India (RBI) that allows resident individuals to remit money outside India for various purposes. Under this scheme, individuals can remit up to USD 250,000 per financial year (April-March) for permissible transactions. What is Remittance? Remittance refers to the transfer of money …