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RBI proposes Rs 50 lakh sub-limit under LRS
Original: zee business
The Reserve Bank of India has proposed a Rs 50 lakh sub-limit under the Liberalised Remittance Scheme, a move aimed at curbing dollar outflows. The proposed cap covers overseas business travel and pilgrimages, alongside other foreign spending by resident Indians. Zee Business has published an explainer on what the proposal means for individuals and companies sending money abroad.
Why now: The RBI's proposal directly affects Indians remitting money abroad for travel, business and pilgrimages, prompting coverage and discussion.
Reserve Bank of IndiaZee BusinessLiberalised Remittance Scheme
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- Explained: RBI proposes Rs 50 lakh sub-limit under LRS to curb dollar outflows; business travel, pilgrimages included · Zee Business
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