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The remittance facility under the LRS is not available for the following things:
1. 🔖 Remittance for any purpose specifically prohibited under Schedule-I (like purchase of lottery tickets/sweep stakes etc.) or any item restricted under Schedule II of Foreign Exchange Management (Current Account Transactions) Rules, 2000.
2. 🔖 Remittance from India for margins or margin calls to overseas exchanges/overseas counterparty.
3. 🔖 Remittances for the purchase of Foreign currency convertible bonds (FCCBs) issued by Indian companies in the overseas secondary market.
4. 🔖 Remittance for trading in foreign exchange abroad.
5. 🔖 Capital account remittances, directly or indirectly, to countries identified by the Financial Action Task Force (FATF) as “non- cooperative countries and territories,” from time to time.
6. 🔖 Remittances directly or indirectly to those individuals and entities identified as posing a significant risk as advised by the Reserve bank of India.
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