Remittances to International Financial Services Centres (IFSCs) under the Liberalised Remittance Scheme (LRS)

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....Remittance Scheme (LRS) Attention of Authorised Persons is invited to A.P. (DIR Series) Circulars, i.e., No.11 dated February 16, 2021, No.03 dated April 26, 2023, and No.06 dated June 22, 2023, on remittances to International Financial Services Centres (IFSCs) in India under the Liberalised Remittance Scheme (LRS) and the Master Direction No. 7/2015-16 on LRS dated January 01, 2016 (as amended....

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.... Services Centres Authority Act, 2019 within IFSCs; and ii. All current or capital account transactions, in any other foreign jurisdiction (other than IFSCs) through an FCA held in IFSCs. For these permissible purposes, resident individuals can open Foreign Currency Account (FCA) in IFSCs. 4. Authorised Persons shall bring the contents of this circular to the notice of their constit....