Liberalised Remittance Scheme: resident individuals may open FCAs in IFSCs for permitted investments; 15 day repatriation rule withdrawn. Resident individuals may open a Foreign Currency Account (FCA) in International Financial Services Centres (IFSCs) for making investments permissible under the Liberalised Remittance Scheme (LRS); the prior requirement to repatriate funds lying idle in such accounts within 15 days is withdrawn and balances will be governed by the Master Direction on LRS.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Liberalised Remittance Scheme: resident individuals may open FCAs in IFSCs for permitted investments; 15 day repatriation rule withdrawn.
Resident individuals may open a Foreign Currency Account (FCA) in International Financial Services Centres (IFSCs) for making investments permissible under the Liberalised Remittance Scheme (LRS); the prior requirement to repatriate funds lying idle in such accounts within 15 days is withdrawn and balances will be governed by the Master Direction on LRS.
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