Sending Money Abroad? The Hidden Truth About RBI’s Liberalised Remittance Scheme (LRS) Every Indian MUST Know Before Transferring Even ₹1!
The Liberalized Remittance Scheme (LRS), introduced by RBI, permits resident individuals (including minors) to transfer up to $250,000 annually outside India for various purposes like travel, education, purchasing real estate, investment, etc. This limit applies to all combinations of current account transactions. Individuals from India have been misinterpreting LRS to believe they will create a