Strict checks coming in! RBI to tighten rules for overseas...

Strict checks coming in! RBI to tighten rules for overseas remittances by resident Indians; here’s what is being planned

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The Reserve Bank of India plans to tighten regulations on international money transfers by Indian residents, targeting foreign currency deposits with lock-in periods. These modifications aim to prevent the Liberalised Remittance Scheme from being used for passive wealth shifting, a concern for the RBI.

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