The Reserve Bank of India (RBI) has doubled overseas remittances for
individuals upto $ 2,50,000 per individual per year under the Liberalised
Remittance Scheme (LRS).
RBI has also been decided in consultation with
the government that all the facilities for release of exchange remittances for
current account transactions available to resident individuals under Schedule
III to Foreign Exchange Management (Current Account Transactions) Rules 2000,
as amended from time to time, shall also be subsumed under this limit.
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