RBI's Latest Move: Opening Forex Accounts in GIFT City for Indian Residents
Wednesday, 10 July 2024, 23:37
RBI's Expansion of LRS Scope Through Forex Accounts in GIFT City
The RBI has broadened the scope of the Liberalized Remittance Scheme (LRS) for Indian residents.
Key Points:
- Forex Accounts in GIFT City: Residents can open forex accounts for various remittances.
- RBI Compliance: Accounts operate under RBI regulations.
- Capital Flow Management: Offers enhanced flexibility and opportunity for global transactions.
This move by the RBI facilitates easier access to international investments and transactions for Indian residents.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.