New 55% Off on All Courses - Enroll Now! Click Here

    Question

    As per the IFSCA Circular on Remittances to IFSCs under

    the Liberalised Remittance Scheme (LRS) (July 2024), which of the following is a permissible purpose for remittances under LRS to IFSCs?
    A Investments in foreign securities Correct Answer Incorrect Answer
    B Payment of education fees to Indian universities Correct Answer Incorrect Answer
    C Availing financial services within IFSCs Correct Answer Incorrect Answer
    D Purchase of real estate in India Correct Answer Incorrect Answer
    E Acquisition of physical gold from international bullion markets Correct Answer Incorrect Answer

    Solution

    The circular expands the scope for LRS remittances to include permissible purposes such as availing financial services or financial products within IFSCs as per the IFSCA Act, 2019.

    Practice Next