Question
Which of the following is explicitly excluded from
remittances under the RBI’s LRS?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.Â
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