Liberalised Remittance Scheme (LRS) for Resident Individuals – daily reporting of transactions

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Full Text of the Document

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.... in para 10 of Part II of the First Bi Monthly Monetary Policy Statement 2018-19 dated April 05, 2018. 2. Currently, transactions under Liberalised Remittance Scheme (LRS) are being permitted by AD banks based on the declaration made by the remitter. The monitoring of adherence to the limit is confined to obtaining such a declaration without independent verification, in the absence of a reliable ....