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.source https://economictimes.indiatimes.com/industry/banking/finance/banking/rbi-partially-relaxes-restrictions-on-sbm-bank-india/articleshow/97494044.cms
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