The LRS is a policy of the Reserve Bank of India that governs the maximum amount and purposes of remittances from India to overseas. Under the Liberalized Remittance Scheme, all resident individuals of India, including minors, are allowed to remit up to USD 250,000 per financial year (April – March) without seeking approval from the RBI. The LRS was instituted to make it easier for residents of India for most purposes including travel overseas, financing studies overseas, investment in equity/debt, purchase of immovable property (e.g. real estate), gifts, funding of medical treatments abroad and maintaining bank deposits abroad for future needs. Please refer to the RBI’s Website
) and the RBI’s LRS Notifications Site
) for the most up-to-date regulations. Aeldra customers can initiate LRS transfers from Authorized Dealers which include most private sector, public sector and MNC banks in India, by submitting an A2 form. Examples of the A2 form from three representative banks are below. The originating bank may also need a PAN card, address proof and a form of identification if they are not on file.
Example A2 Forms: HDFC Bank (link) ICICI Bank (link) Kotak Bank (link)