Liberalised Remittance Scheme restrictions limit bank credit for capital account remittances but allow facilities for current account transfers. Under the Liberalised Remittance Scheme, authorised dealer banks may not extend fund-based or non-fund-based credit facilities in Indian rupees or foreign currency to resident individuals for capital account remittances; such facilities may be extended only to facilitate permissible current account remittances.
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Provisions expressly mentioned in the judgment/order text.
Liberalised Remittance Scheme restrictions limit bank credit for capital account remittances but allow facilities for current account transfers.
Under the Liberalised Remittance Scheme, authorised dealer banks may not extend fund-based or non-fund-based credit facilities in Indian rupees or foreign currency to resident individuals for capital account remittances; such facilities may be extended only to facilitate permissible current account remittances.
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