RBI partially relaxes restrictions on SBM Bank India

Last week, the RBI ordered SBM Bank to stop all transactions under the liberalised remittance scheme (LRS) - which allows Indian residents to send up to $250,000 abroad each financial year - until further notice, citing "material supervisory concerns" but without giving any further details.

from Banking/Finance-Industry-Economic Times https://ift.tt/hC0JOIj