The Reserve Bank of India (RBI), through a circular dated 1 June, has increased the limit on remittances by a resident individual from US$125,000 to US$250,000 per financial year and has rationalized current account transactions. Important changes introduced by the circular include:
- Authorized dealer banks may allow remittances of up to US$250,000 by resident individuals per financial year for any permitted current or capital account transaction or a combination of both. Any amount already remitted would have to be deducted from the overall US$250,000 limit.
You must be a subscribersubscribersubscribersubscriber to read this content, please subscribesubscribesubscribesubscribe today.
For group subscribers, please click here to access.
Interested in group subscription? Please contact us.你需要登录去解锁本文内容。欢迎注册账号。如果想阅读月刊所有文章，欢迎成为我们的订阅会员成为我们的订阅会员。
The business law digest is compiled by Nishith Desai Associates (NDA). NDA is a research-based international law firm with offices in Mumbai, New Delhi, Bangalore, Singapore, Silicon Valley and Munich. It specializes in strategic legal, regulatory and tax advice coupled with industry expertise in an integrated manner.
