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. These Regulations are amended from time to time to incorporate the changes in the regulatory framework and published through amendment notifications.
prohibited under Schedule I or any item restricted under Schedule II of Foreign Exchange Management (Current Account Transaction) Rules, 2000dated May , 3, 2000, as amended from time to time. 13. The Scheme is not available for capital account remittances to countries identified by Financial Action Task Force (FATF) as nonco-operative countries -
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