RBI hikes inward remittances limit to 30

In a bid to attract dollars, the Reserve Bank of India has increased the number of times a person in India can receive remittances from abroad in a year.

Now a person can receive remittances 30 times compared to 12 earlier. All Authorised Persons, who are Indian Agents under the Money Transfer Service Scheme and their sub-agents are required to adhere to the new RBI guidelines, the central bank circular said.