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Liberalised Remittance Scheme was introduced by RBI under FEMA 1999 in which of the following year?

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Liberalised Remittance Scheme was introduced by RBI under FEMA 1999 in which of the following year?
1). 2005
2). 2007
3). 2003
4). 2004


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Answered by on | Votes 2 |
  • The Reserve Bank of India had announced a Liberalised Remittance Scheme (the Scheme) in February 2004.
  • It aims at simplifying foreign exchange remittance facilities to Indian resident individuals.
  • The current limit is for $ 2,50,000 annually for Indian residents.

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