Send Money Abroad?

Want to send money abroad? Help is here!

> RBI allows you to remit up to USD 250,000 abroad per financial year for bonafide purposes .

This is called Liberalised Remittance Scheme (LRS):

  • LRS is ONLY for resident Indians. This scheme is not available to NRIs.
  • NRIs can freely remit funds from NRE account without any limit or upto USD 1 million/FY from NRO accounts.



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, within the limit of USD 2,50,000 only.

If an individual remits any amount under LRS in a financial year, then the applicable limit for such individual would be reduced from USD 250,000 by the amount so remitted.

In case of remitter being a minor, the LRS declaration form must be countersigned by the minor’s natural guardian.


Prohibited Items

  • Remittance for any purpose specifically prohibited under Schedule-I or any item restricted under Schedule II of Foreign Exchange Management (Current Account Transactions) Rules, 2000.
  • Remittance from India for margins or margin calls to overseas exchanges / overseas counter party.
  • Remittances for purchase of FCCBs issued by Indian companies in the overseas secondary market.
  • Remittance for trading in foreign exchange abroad
  • Capital account remittances, directly or indirectly to countries identified by the Financial Action Task Force (FATF) as “non- cooperative countries and territories”, from time to time.
  • Remittances directly or indirectly to those individuals and entities identified as posing significant risk of committing acts of terrorism as advised separately by the Reserve Bank to the banks.


Permissible purposes for which LRS is allowed

  • Private visits to any country (except Nepal and Bhutan)
  • Gift or donation.
  • Going abroad for employment
  • Emigration
  • Maintenance of close relatives abroad
  • Travel for business, or attending a conference or specialized training or for meeting expenses for meeting medical expenses, or check-up abroad, or for accompanying as attendant to a patient going abroad for medical treatment/ check-up
  • Expenses in connection with medical treatment abroad
  • Studies abroad
  • Any other current account transaction
  • Resident can give a rupee loan to an NRI/PIO in his NRO Account under LRS limit




  • Remittances under the Scheme can be used for purchasing objects of art subject to the provisions of other applicable laws such as the extant Foreign Trade Policy of the Government of India.
  • However, for emigration; expenses in connection with medical treatment abroad and studies abroad, individuals may avail of exchange facility for an amount in excess of the overall limit prescribed under the LRS, if it is so required by a country of emigration, medical institute offering treatment or the university respectively.
  • Any additional remittance in excess of the said limit for the above mentioned purposes shall require prior approval of the Reserve Bank of India.

You will need to mention  purpose codes specified by RBI while submitting the application for outward remittance.



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