📝 One-liners · 65 cards
INVESTMENT OPPORTUNITIES ABROAD FOR RESIDENTS
What is the Liberalised Remittance Scheme (LRS) and who is eligible to use it?
LRS is an RBI scheme that allows all resident individuals, including minors, to remit up to USD 2,50,000 per financial year for any permissible current or capital account transaction.
What is the maximum amount a resident individual can remit abroad under LRS in a single financial year?
USD 2,50,000 per financial year per individual.
What is the annual limit for remittances under the Liberalised Remittance Scheme?
Resident individuals can remit up to USD 2,50,000 per financial year (April to March) under the LRS without requiring prior RBI approval.
Under which act is the Liberalised Remittance Scheme governed in India?
Foreign Exchange Management Act (FEMA), 1999.
🔒
Unlock 65 revision one-liners
Interactive flashcard deck — flip every card to drill questions and answers, mark the ones you got wrong, and revise smarter for INVESTMENT OPPORTUNITIES ABROAD FOR RESIDENTS.
🪙
Unlock cost
300 coins
30-day access · re-unlocks free for 30 days