What is Liberalised Remittance Scheme and what’s it used for?1 min read . Updated: 17 Sep 2019, 11:44 PM IST
- According to the prevailing regulations, resident individuals may remit up to $250,000 per financial year
- The remitted amount can also be invested in shares, debt instruments, and be used to buy immovable properties in overseas market
The Liberalised Remittance Scheme (LRS) of the Reserve Bank of India (RBI) allows resident individuals to remit a certain amount of money during a financial year to another country for investment and expenditure.
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