Liberalised Remittance Scheme for Resident Individuals- Enhancement of limit from USD 50,000 to USD 100,000

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....d Remittance Scheme for Resident Individuals- Enhancement of limit from USD 50,000 to USD 100,000 Attention of Authorised Dealer Category I (AD - Category I) banks is invited to A. P. (DIR Series) Circular No. 64 dated February 4, 2004 and A. P. (DIR Series) Circular No. 24 dated December 20, 2006 on the Liberalised Remittance Scheme for Resident Individuals (the Scheme). 2. As announced in the ....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... further clarified that banks should not extend any kind of credit facilities to resident individuals to facilitate remittances under the Scheme. 5. All other conditions mentioned in A. P. (DIR Series) Circular No. 64 dated February 4, 2004 and A. P. (DIR Series) Circular No. 24 dated December 20, 2006 shall remain unchanged. 6. Necessary amendments to Foreign Exchange Management (Permissible C....