The limit of foreign exchange remittance which was reduced to USD 75,000 last year in view of instability in foreign exchange has been increased to USD 125,000 as RBI (Reserve Bank of India) has been successful in controlling the depreciating rupees.
RBI in its second bi-monthly policy statement, 2014-15, issued on June 03, 2014 has enhanced such limit under the Liberalized remittance scheme (LRS) without end use restrictions except for prohibited foreign exchange transactions such as margin trading, lottery and the like. Moreover making remittances for any prohibited or illegal activities such as margin trading, lottery, etc is also not allowed.
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