RBI had announced in its circular that forex Remittance limit for Residential individuals has been increased from USD 75,000 to USD 125,000 per financial year with immediate effect. During August 2013 RBI Reduced Remittance limit from USD 200,000 to USD 75,000 as the Indian rupee hurtled towards its all-time lows of 68 levels per dollar.
Liberealised Remittance Scheme should not be used for making remittances for any prohibited or illegal activities such as margin trading, lottery etc
Reserve Bank also increased the amount of Indian currency notes Indians and non-residents can take out of the country. The limit has been hiked to Rs. 25,000. At present, only Indian residents are allowed to take Indian currency notes up to Rs. 10,000 out of the country.