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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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