The Reserve Bank of India had announced a Liberalised Remittance - TopicsExpress

The Reserve Bank of India had announced a Liberalised Remittance Scheme (the Scheme) in February 2004 as a step towards further simplification and liberalization of the foreign exchange facilities available to resident individuals. As per the Scheme, resident individuals may remit up to USD 200,000 per financial year for any permitted capital and current account transactions or a combination of both. The Scheme was operationalised vide A.P. (DIR Series) Circular No. 64 dated February 4, 2004. google.co.in/url?sa=t&rct=j&q=&esrc=s&source=web&cd=1&ved=0CCkQFjAA&url=http%3A%2F%2Frbi.org.in%2Fscripts%2FFAQView.aspx%3FId%3D66&ei=6WsYUp25NYryiAfd0YHwCw&usg=AFQjCNGMU9kVDBPCMpTImNWECYhYbItmVg&bvm=bv.51156542,d.aGc&cad=rja

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