What is the Liberalised Remittance Scheme (LRS) of USD 2,50,000?

Under the Liberalised Remittance Scheme, all resident individuals, including minors, are allowed to freely remit up to USD 2,50,000 per financial year (April – March) for any permissible current or capital account transaction or a combination of both. Further, resident individuals can avail of foreign exchange facility for the purposes mentioned in Para 1 of Schedule III of FEM (CAT) Amendment Rules 2015, dated May 26, 2015, within the limit of USD 2,50,000 only. The remittances can be made in any freely convertible foreign currency.

Learn More about LRS here: https://m.rbi.org.in/scripts/FAQView.aspx?Id=115