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    Question

    When was the Liberalised Remittance Scheme

    introduced?
    A 2000 Correct Answer Incorrect Answer
    B 2004 Correct Answer Incorrect Answer
    C 2007 Correct Answer Incorrect Answer
    D 2010 Correct Answer Incorrect Answer
    E 2015 Correct Answer Incorrect Answer

    Solution

    The Liberalised Remittance Scheme was introduced on February 4, 2004, with a limit of USD 25,000. The LRS limit has been revised in stages consistent with prevailing macro and micro economic conditions. The limit currently stands at USD 2,50,000 per financial year (April – March) for any permissible current or capital account transaction or a combination of both

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