Government tightens rules on global credit card transactions by Indian travellers abroad
The Indian government has ended a key relaxation on the use of international credit cards (ICCs) by residents touring abroad. Such transactions would now be included in the computation of the limit of $2,50,000 under the liberalized remittance scheme (LRS) per person per year, beyond which the central bank's approval would be required. This change comes into effect immediately.
Disclaimer : Mytimesnow (MTN) lets you explore worldwide viral news just by analyzing social media trends. Tap read more at source for full news. The inclusion of any links does not necessarily imply any endorsement of the views expressed within them.
