Can the global traveller have the same please, Mr. Raghuram Rajan?


In a move of far reaching consequence, RBI recently increased the individual remittance limit from $1 lac to $2.5 lacs (USD),  encouraging those looking to buy property abroad. In effect this means that if you are a family of 4, can can now remit upto $10 Lacs, as compared to $4 lacs earlier. This is bound to increase the transactions between the INR and USD, and augers well for the economy. My suggestion is that the RBI should consider increasing the limit for business and leisure trips as well, with a hike in the cash-carrying component. Apart from having the same resultant USD-INR transactional influence, it will generate greater turnover in the Indian forex industry.


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