Money & Banking

Remittance Scheme

Arvind Jayaram | Updated on November 15, 2017

Under the Liberalised Remittance Scheme (LRS), residents have been permitted to remit up to an amount of $200,000 a financial year for any permitted current or capital account transactions or a combination of both with effect from September 26, 2007.

The Scheme was introduced in February 2004, to facilitate resident individuals to freely remit up to $25,000 a calendar year.

The amount was enhanced to $50,000 a financial year in December 2006, then further to $100,000 a financial year in May 2007, before being hiked to $200,000 in September 2007.

Published on May 17, 2012

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