THE RESERVE BANK of India (RBI) has lifted a major roadblock for investments in the International Financial Services Centre (IFSC) at GIFT City, Gujarat, through the Liberalised Remittance Scheme (LRS) route.
Indian residents can now make remittances to IFSCs under the LRS framework. They are allowed to open a foreign currency account (FCA) in IFSC. Until now, any funds lying idle in FCA for up to 15 days had to be repatriated to the domestic rupee account.
A new RBI circular has now allowed unutilised funds to be repatriated and surrendered to an authorised dealer bank within 180 days.
"The condition of repatriating any funds lying idle in the account for a period up to 15 days from the date of its receipt is withdrawn with immediate effect and shall now be governed by the provisions of the scheme as contained in the aforesaid master direction on LRS," an RBI circular said on April 26.
Many investors had faced difficulties in making investments in IFSC as the transaction timelines often got extended due to various reasons, said experts.
この記事は Financial Express Mumbai の April 28, 2023 版に掲載されています。
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この記事は Financial Express Mumbai の April 28, 2023 版に掲載されています。
7 日間の Magzter GOLD 無料トライアルを開始して、何千もの厳選されたプレミアム ストーリー、9,000 以上の雑誌や新聞にアクセスしてください。
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