Tag Archives: Remittances

Context The Gulf region has played a crucial role in ensuring India’s energy security, which is vital for the country’s industrial growth, power, and transportation sectors. Energy Production and Consumption in India Global Standing: India is the world’s third-largest energy consumer after China and the United States. Energy Consumption: According …

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 …