Tag Archives: Foreign Currency Accounts

Liberalised Remittance Scheme (LRS)

The Reserve Bank of India (RBI) has permitted resident individuals to open Foreign Currency Accounts at International Financial Services Centres (IFSCs) in GIFT City, Gujarat, under the Liberalised Remittance Scheme (LRS). Details: Authorised Persons: These are entities authorised by the RBI, such as banks and designated FX dealers, to facilitate …

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