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      Question

      What does LRS stand

      for?
      A Liberalized Remittance Scheme Correct Answer Incorrect Answer
      B Liability Remittance Scheme Correct Answer Incorrect Answer
      C Liason Remttance Scheme Correct Answer Incorrect Answer
      D Liberal Remittance Scheme Correct Answer Incorrect Answer
      E none of the above Correct Answer Incorrect Answer

      Solution

      The Liberalized Remittance Scheme (LRS) is a facility provided by the RBI for all resident individuals including minors to freely remit upto a certain amount in terms of US Dollar for current and capital account purposes or a combination of both.

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