Exams › IBPS PO › General Awareness

Under the Liberalized Remittance Scheme, all resident individuals, including minors, are allowed to freely remit up to any permissible current or capital account transaction or a combination of both.

1. INR 2,50,000
2. USD 2,50,000
3. USD 50,000
4. INR 50,000

Correct answer: USD 2,50,000

Solution

Under the Liberalized Remittance Scheme, resident individuals can remit up to USD 2,50,000 per financial year for permissible current or capital account transactions. This is a standard RBI banking awareness fact.

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