Strict checks coming in! RBI to tighten rules for overseas remittances by resident Indians; here’s what is being planned
Sunday, 15 June 2025 ()
The Reserve Bank of India plans to tighten regulations on international money transfers by Indian residents, targeting foreign currency deposits with lock-in periods. These modifications aim to prevent the Liberalised Remittance Scheme from being used for passive wealth shifting, a concern for the RBI.
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