Q. LRS is a facility provided by the Reserve Bank of India for all the resident individuals to freely remit a certain amount in terms of US dollar every financial year for a permissible set of current or capital account transactions. Here ‘LRS’ stands for ____.
A) Liberalised Remittance Scheme
B) Liquidity Remittance Scheme
C) Liberalised Revenue Scheme
D) Liberalised Remittance Source
✔ Correct Answer: Liberalised Remittance Scheme
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