It has been decided vide RBI’s A.P.(DIR Series) Circular No. 138 dated June 3, 2014, to increase the limit of Liberalised Remittance Scheme from USD 75000 to USD 125,000 per financial year (April-March)
Accordingly, AD Category –I banks have been allowed to remit up to USD 125,000 per financial year, under the Scheme, for any permitted current or capital account transaction or a combination of both.
Further, it is clarified that the Scheme can now be used for acquisition of immovable property outside India also.