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

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....thorised Dealer Banks Madam / Sir, Liberalised 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 Reside....

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....counterparty are not allowed under the Scheme. 4. It is 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. Neces....