The amount of money you can transfer from one country to another depends on the regulations of the countries involved and any applicable remittance schemes. For example, in India, the Liberalised Remittance Scheme allows citizens to transfer a specific amount.
According to the Reserve Bank of India (RBI), Indian citizens can remit internationally up to USD250,000 per financial year through the Liberalised Remittance Scheme. This can be done through banks or post offices.
Here's a breakdown:
- Country-Specific Regulations: Different countries have varying limits and regulations on international money transfers.
- Remittance Schemes: Schemes like India's Liberalised Remittance Scheme set specific limits.
- Transfer Methods: The method you use (bank, post office, or other service) might also have its own limitations.
