
The 2026 Fiscal Framework of Credit Cards under India’s Liberalised Remittance Scheme (LRS)
Over the past decade, India’s integration with the global digital economy has driven a rapid increase in foreign currency transactions by resident individuals. From overseas education expenses and international business travel to cross-border e-commerce subscriptions, resident taxpayers rely on a multi-tiered array of foreign exchange instruments. Historically, outward remittances and foreign currency expenditures have been governed by the Reserve Bank of India’s (RBI) Liberalised Remittance Scheme (LRS), which establishes an annual permissible cap of USD 250,000 per financial year for resident individuals.






