International Money Transfers

Strict checks coming in! RBI to tighten rules for overseas remittances by resident Indians; here’s what is being planned – Times of India

June 15, 2025 0

The RBI’s Liberalised Remittance Scheme (LRS) governs foreign investments by individuals. (AI image) The Reserve Bank of India intends to strengthen regulations concerning international money transfers, that is, overseas remittances by Indian residents, with new restrictions on foreign currency deposits that involve lock-in periods.The RBI’s Liberalised Remittance Scheme (LRS) governs foreign investments by individuals, permitting resident Indians to send up …

RBI takes note! How overseas students are being used by wealthy parents to stash money abroad – The Times of India

March 4, 2025 0

RBI’s 2003 regulation granted ‘non-resident Indian’ (NRI) status to overseas students. (AI image) The Reserve Bank of India (RBI) is reportedly examining the utilisation of a two-decade-old foreign exchange regulation that was initially established to assist Indian students studying abroad. Students have been quietly facilitating international money transfers for years, a practice that is now gaining attention.The central bank’s 2003 …