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Frequently Asked Questions
Money transfer abroad refers to sending funds from India to a foreign country for permitted purposes under the Foreign Exchange Management Act (FEMA), 1999, as regulated by the Reserve Bank of India (RBI).
A resident Indian individual can remit money abroad as per RBI rules. NRIs are governed by separate FEMA provisions.
Most outward remittances are made under the Liberalised Remittance Scheme (LRS) of RBI.
Under LRS, a resident individual can remit up to USD 250,000 per financial year for all permitted purposes combined.