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          FEMA

          What are the purposes under FEM (CAT) Amendment Rules, 2015, under which a resident individual can avail of foreign exchange facility?

          Liberalised Remittance Scheme - As on Apr 06, 2023

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          Liberalised Remittance Scheme allows individuals to remit abroad for specified personal and current account purposes subject to AD due diligence. The Liberalised Remittance Scheme allows resident individuals to remit foreign exchange for specified purposes-private visits, gifts, employment, emigration, maintenance of relatives, business travel, conferences or specialised training, medical treatment or attendant travel, studies, and other non defined current account transactions. Authorized Dealer banks may process residual current account remittances without prior central bank permission so long as such transactions are not prohibited or restricted under the relevant Schedules and the bank is satisfied as to the genuineness of the transaction.
                            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 allows individuals to remit abroad for specified personal and current account purposes subject to AD due diligence.

                                  The Liberalised Remittance Scheme allows resident individuals to remit foreign exchange for specified purposes-private visits, gifts, employment, emigration, maintenance of relatives, business travel, conferences or specialised training, medical treatment or attendant travel, studies, and other non defined current account transactions. Authorized Dealer banks may process residual current account remittances without prior central bank permission so long as such transactions are not prohibited or restricted under the relevant Schedules and the bank is satisfied as to the genuineness of the transaction.


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