Dr. B. Lal Institute of Biotechnology Interview Questions and Answers

The limit in LRS for processing the remittance is $250,000 per financial year.

• The limit under the Liberalized Remittance Scheme (LRS) for processing remittances is $250,000 per financial year for individuals.

• This limit includes all types of foreign exchange transactions such as overseas education expenses, medical treatment, gifts, investments, etc.

• Any amount exceeding the LRS limit requires prior approval from the Reserve Bank of India (RBI).

• For example, if an individual has...read more

KYC documents required for opening a current account include proof of identity, proof of address, and photographs.

• Proof of identity such as passport, driver's license, or Aadhaar card

• Proof of address like utility bills, bank statements, or rental agreement

• Photographs of the account holder