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