Tuesday, January 31, 2023

BANKING

Last week, the RBI ordered SBM Bank to stop all transactions under the liberalised remittance scheme (LRS) - which allows Indian residents to send up to $250,000 abroad each financial year - until further notice, citing "material supervisory concerns" but without giving any further details.

from Banking/Finance-Industry-Economic Times https://ift.tt/zyQ5Ono
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