Liberalised Remittance Scheme limit increased, allowing higher annual remittances for permitted current and capital account transactions. Authorised Dealer Category I banks may allow remittances by resident individuals up to the enhanced LRS annual ceiling of USD 125,000 for any permitted current or capital account transaction or combination thereof; remittances for prohibited activities such as margin trading and lotteries remain barred, all other terms unchanged, and banks must notify customers and implement the directions issued under Sections 10(4) and 11(1) of the Foreign Exchange Management Act, 1999.
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Liberalised Remittance Scheme limit increased, allowing higher annual remittances for permitted current and capital account transactions.
Authorised Dealer Category I banks may allow remittances by resident individuals up to the enhanced LRS annual ceiling of USD 125,000 for any permitted current or capital account transaction or combination thereof; remittances for prohibited activities such as margin trading and lotteries remain barred, all other terms unchanged, and banks must notify customers and implement the directions issued under Sections 10(4) and 11(1) of the Foreign Exchange Management Act, 1999.
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