Overseas education: Is the RBI remittance limit of $250,000 per fiscal year enough?

Ashwini Kumar Sharma • May 22, 2024 / 13:24 IST

Under the Liberalised Remittance Scheme, all resident individuals, including minors, can remit up to $250,000 (around Rs 2 crore) per financial year for various purposes such as personal visits, gifts, donations, emigration, maintenance of relatives, business trips, conferences, medical expenses, and studies abroad.

Indians remitted around $ 3,400 million during the year 2022-23 for studying abroad, as per RBI

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