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    Question

    Which of the following is explicitly excluded from

    remittances under the RBI’s LRS?
    A Overseas education fees (with documentary proof) Correct Answer Incorrect Answer
    B Remittance for purchase of lottery tickets or proscribed magazines (items prohibited under Schedule-I) Correct Answer Incorrect Answer
    C Maintenance of close relatives abroad (up to the prescribed limit) Correct Answer Incorrect Answer
    D Foreign travel expenses (air tickets, hotels) within limits Correct Answer Incorrect Answer
    E Investment in overseas deposits in permitted jurisdictions (within limits) Correct Answer Incorrect Answer

    Solution

    RBI FAQs and the LRS rules state that remittances for purposes specifically prohibited under Schedule-I (like purchase of lottery tickets, sweepstakes, proscribed publications, and other prohibited items) are not allowed under the LRS; other permitted purposes (education, maintenance, travel, investment subject to limits and documentation) are allowed. 

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