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<h1>RBI Raises Remittance Limit for Consultancy in Infrastructure Projects from USD 1 Million to USD 10 Million Under FEMA.</h1> The circular issued by the Reserve Bank of India under the Foreign Exchange Management Act (FEMA), 1999, addresses the liberalization of remittance limits for consultancy services in infrastructure projects. It raises the remittance limit for consultancy services procured from outside India by Indian companies executing infrastructure projects from USD 1 million to USD 10 million per project. The infrastructure sector includes power, telecommunications, railways, roads, ports, airports, industrial parks, and urban infrastructure. Authorized Dealer Category-I banks are permitted to approve these remittances after verifying transaction authenticity. Amendments to the relevant rules are to be notified separately.