PM Revives Remittance Subsidy Program – SUCH TV

ISLAMABAD: The federal government has decided to allocate an initial supplementary grant of Rs30 billion to reinstate subsidies on foreign remittances, highlighting the absence of proper consultation among stakeholders before the finance ministry removed these subsidies from the budget in June. Government sources told The Express Tribune that the finance ministry has conceded to the…

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

The RBI’s Liberalised Remittance Scheme (LRS) governs foreign investments by individuals. (AI image) The Reserve Bank of India intends to strengthen regulations concerning international money transfers, that is, overseas remittances by Indian residents, with new restrictions on foreign currency deposits that involve lock-in periods.The RBI’s Liberalised Remittance Scheme (LRS) governs foreign investments by individuals, permitting…