Transcription of Master Direction - Liberalised Remittance Scheme (LRS)
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Master Direction - Liberalised Remittance Scheme (LRS)
RBI/FED/2017-1 8/3 FED Master Direction No. 7/2015-1 6 January 1, 2016 (Updated as on June 20, 2018) (Updated as on August 02, 2017) (Updated as on April 12, 2017) (Updated as on February 11, 2016*) To, All Authorised Persons in Foreign Exchange Madam / Sir, Master Direction - Liberalised Remittance Scheme (LRS) The captioned Scheme was introduced on February 4, 2004, vide (DIR Series) Circular No. 64 dated February 4, 2004 read with GoI Notification (E) dated March 23, 2004, as a liberalization measure to facilitate resident individuals to remit funds abroad for permitted current or capital account transactions or combination of both.
Remittances under the Scheme can be consolidated in respect of family members ... Visits by individuals in connection with attending of an international conference, seminar, specialised training, apprentice training, etc., are treated as business visits. For business trips to foreign countries, resident individuals
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