https://www.taxtmi.com/news?id=11543 The RBI tightened foreign exchange outflows by reducing the automatic-route limit for Overseas Direct Investment (ODI) to a single multiple of the Indian party's net worth, extending that reduced cap to remittances for unincorporated energy and natural resources entities while exempting certain public-sector and designated oil investors. It also lowered the individual remittance ceiling under the Liberalised Remittance Scheme (LRS), permitted JV/WOS formation abroad within the new limit, barred LRS-funded immovable property acquisitions abroad, continued prohibitions on specified transactions, and preserved an approval route for exceptional genuine needs. en-us Wed, 14 Aug 2013 18:31:56 +0530 Wed, 14 Aug 2013 18:31:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=11543 The RBI tightened foreign exchange outflows by reducing the automatic-route limit for Overseas Direct Investment (ODI) to a single multiple of the Indian party's net worth, extending that reduced cap to remittances for unincorporated energy and natural resources entities while exempting certain public-sector and designated oil investors. It also lowered the individual remittance ceiling under the Liberalised Remittance Scheme (LRS), permitted JV/WOS formation abroad within the new limit, barred LRS-funded immovable property acquisitions abroad, continued prohibitions on specified transactions, and preserved an approval route for exceptional genuine needs. News - Wed, 14 Aug 2013 18:31:56 +0530 https://www.taxtmi.com/news?id=11543