Glossary term
Liberalised Remittance Scheme
Liberalized Remittance Scheme (LRS) is a regulatory system that facilitates individuals who are residents to transfer funds overseas for authorized purposes including study, travel, investments, medical expenses, or personal maintenance purposes. LRS provides rules for remittances on an annual basis along with the conditions that need to be followed. Liberalized Remittance Scheme (LRS) helps in making international transactions for residents.
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