Image Credit : Google
Image Credit : Google
Liberalised Remittance Scheme (LRS) made transferring money abroad easier in India
Image Credit : Google
Sending money abroad was a hectic process prior to LRS, but it is now super easy
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With LRS, You can send money to your children abroad in a variety of ways
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One can send up to $2,50,000 in a financial year to their adult children residing overseas.
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RBI does not impose any restrictions on the frequency of remittances, as long as the total amount does not exceed the limit
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To begin sending money, you need to contact an authorised dealer bank, it will guide you through the appropriate processes and documentation for international fund transfers.
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The bank will provide you with a secure and efficient method of transferring funds to your children living abroad.