RBI allows resident Indians to open dollar accounts in Gift City. What this means for you
The Reserve Bank of India has allowed resident Indians to open foreign currency accounts in Gift City (IFSC near Gandhinagar, Gujarat) for purposes permitted in the Liberalised Remittance Scheme (LRS). Earlier, these accounts were limited to investing in securities in Gift City and education-related payments. This broader scope for remittances can be a game-changer for … Read more