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liberalised remittance scheme (LRS)

Prepare to shell more for overseas trips: Credit card spend abroad to come under RBI's remittance scheme

Prepare to shell more for overseas trips: Credit card spend abroad to come under RBI's remittance scheme

Thu, May 18, 2023

As per the notification, the Finance Ministry in consultation with the RBI, has omitted Rule 7 of the Foreign Exchange Management (Current Account Transactions) Rules, 2000, thus effectively including forex spending through international credit cards under the LRS.

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Note ban may have affected current account deficit, says SBI Research

Note ban may have affected current account deficit, says SBI Research

Sun, Mar 26, 2017

"Net travel has registered the incremental increase of USD 1,469 million in the quarter, which is an all-time high (at least since 2000-01)," the report said.

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