Liberalised Remittance Scheme of USD 50,000 for Resident Individuals

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....In terms of the above mentioned Rules and directions - • a resident individual is permitted to remit up to USD 25,000 per calendar year under the Liberalised Remittance Scheme of USD 25,000 (the Scheme) for any current or capital account transactions or a combination of both subject to specified terms and conditions including remittance facility not being made available for certain purposes, • in terms of the Current Account Transactions Rules • a resident individual is permitted to remit upto USD 5000 per remitter/ donor per annum towards gift , • a resident individual is permitted to remit upto USD 5000 per remitter/ donor per annum towards donation, • a resident individual ....

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....change by Authorised Persons up to USD 10,000 or its equivalent in one calendar year on a declaration basis for one or more private visits to any country (except Nepal and Bhutan) will continue to be available on a self-declaration basis. However, the facility would be now available on a financial year (April-March) basis. 4. As indicated in A.P (DIR Series) Circular No.80 dated March 18, 2004, soliciting of deposits etc. under the Scheme by entities which do not have an operational presence in India, gives rise to supervisory concerns. It is therefore clarified that all banks, both Indian and foreign, including those not having an operational presence in India should seek prior approval from the Reserve Bank for the schemes being market....

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....ed under any other law. Yours faithfully, (Salim Gangadharan)Chief General Manager-in-Charge Annex-1 [A.P.(DIR Series) Circular No.24 dated December 20, 2006] Application cum Declaration for purchase of foreign exchange under the Liberalised Remittance Scheme of USD 50,000(To be completed by the applicant) I. Details of the applicant a. Name ………………………….. b. Address………………………… c. Account No…………………….. d. PAN No…………………………. II. Details of the foreign exchange required 1. Amount (Specify currency)……………………………… 2. Purpose …………………………………………………. III. Source of funds: ……....