Now residents can make remittances to IFSCs under LRS
On February 16, 2021 (Tuesday) RBI in a notification said AD Category – I banks may allow resident individuals to make remittances under LRS (Liberalised Remittance Scheme) to IFSCs (International Financial Services Centres) in India, set up in India under the Special Economic Zone Act, 2005 subject to the following conditions: The remittance shall be…