Banking
LRS
pronounced: [L-R-S]
Liberalised Remittance Scheme allows resident individuals to remit up to USD 2,50,000 per financial year for permitted current and capital account transactions without RBI approval, covering education, travel, and investment abroad.
Example
A ₹5 lakh personal loan at 10% p.a. for 3 years has an EMI of ₹16,607/month. Total payment = ₹5,97,852, of which ₹97,852 is interest.
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Last updated: 21 May 2026