Liberalised Remittance Scheme prohibits banks from opening foreign currency accounts in India for resident individuals under current guidance. Under the Liberalised Remittance Scheme, banks are not permitted to open or maintain foreign currency accounts in India for resident individuals; the LRS ... Summary
Liberalised Remittance Scheme prohibits banks from opening foreign currency accounts in India for resident individuals under current guidance.
Under the Liberalised Remittance Scheme, banks are not permitted to open or maintain foreign currency accounts in India for resident individuals; the LRS does not authorise such account opening and functions as a prohibition on this banking practice under the applicable foreign exchange framework.
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