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TMI BlogLiberalized Remittance Scheme – ClarificationsX X X X Extracts X X X X X X X X Extracts X X X X ..... 14, 2013. In this connection, Reserve Bank has been receiving queries from the various stakeholders and Authorised Dealer banks. All such queries have been collated and are given at the annex together with the answers/ clarifications. 2. AD Category - I banks may bring the contents of this circular to the notice of their constituents and customers concerned. 3. The directions contained in this c ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 2000, as amended from time to time, such as remittances for education, health / medical expenses over and above the LRS limit? As per the current guidelines of LRS, only gift and donation (from the list of items under Schedule III to FEM CAT Rules, 2000), by a resident individual have been subsumed under the LRS limit. For all other purposes such as educational and medical expenses the limits of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... to a patient going abroad for medical treatment/ check-up (without any RBI approval - Para 8 of Schedule III to FEM CAT Rules, 2000, as amended from time to time). * A resident individual can make remittances for studies up to the estimates from the institutions abroad or USD 100,000, whichever is higher (without any RBI approval - Para 10 of Schedule III to FEM CAT Rules, 2000, as amended from ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ction in the LRS limit these guidelines do not affect genuine transactions. 3 As per para 2 (iii) of AP (Dir Series) Circular No.24 dated August 14, 2013 Notification FEMA 263/2013-RB is dated August 5, 2013 but the said Notification as available on the website is dated March 5, 2013? What is the correct date of this Notification? The said Notification is dated March 5, 2013 but gazetted on Au ..... X X X X Extracts X X X X X X X X Extracts X X X X
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