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of <h1>RBI Master Circular: Guidelines on Remittances for Residents Under FEMA 1999, Including Liberalised Remittance Scheme Details.</h1> The Master Circular issued by the Reserve Bank of India consolidates guidelines on miscellaneous remittances from India for residents under the Foreign Exchange Management Act, 1999. It details the permissible transactions for which foreign exchange can be drawn, including private visits, business travel, medical treatment, and cultural tours. The circular also outlines the Liberalised Remittance Scheme, allowing residents to remit up to USD 125,000 per financial year for permissible transactions. It specifies documentation requirements, conditions for using international credit and debit cards, and guidelines for handling unspent foreign exchange. The circular emphasizes compliance with the Act's provisions and the need for authorized dealers to verify the purpose of transactions.
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