RBI plans ₹50 lakh sub-limit on select overseas remittances
In short
The RBI has reportedly proposed a ₹50 lakh sub-limit inside the ₹2,50,000 annual Liberalised Remittance Scheme cap. The idea is to curb dollar outflows and protect the rupee.
If implemented, the change would limit some overseas remittances and could affect people using the scheme.
What the reporting says
The RBI has reportedly proposed a ₹50 lakh sub-limit within the ₹2,50,000 annual Liberalised Remittance Scheme cap to curb dollar outflows and support the rupee. The reported move would place a ceiling on select overseas remittances under the scheme. The proposal is aimed at saving rupees by reducing pressure on foreign currency outflows.
Why it matters
The RBI has reportedly proposed a ₹50 lakh sub-limit within the ₹2,50,000 annual Liberalised Remittance Scheme cap to curb dollar outflows and support the rupee. The move would affect people using select overseas remittances under the scheme. The source frames it as a step to reduce pressure on the currency, linking the proposal directly to foreign exchange outflows.