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of <h1>Liberalised Remittance Scheme expands to allow fee payments to foreign universities via IFSCs under recent government update.</h1> Remittances to International Financial Services Centres (IFSCs) under the Liberalised Remittance Scheme (LRS) can now be made for payment of fees to foreign universities or institutions for courses specified in a recent government notification. This expands the current allowance, which only permitted investments in securities. Authorised Persons are instructed to inform their clients and customers of this update. These directions are issued under the Foreign Exchange Management Act, 1999, and do not override any other required permissions or approvals.
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