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How do I complete my LRS Declaration? Step 1 - Fill in the required fields. Please enter the bank account number, student name student ID. Step 2 - Provide the details of international transactions made in the current financial year. Step 3 - Upload the 3 required documents. Step 4 - Sign the document.
What is LRS declaration form?
What is LRS? The LRS full form is Liberalised Remittance Scheme. It is a foreign exchange policy initiative introduced by the Reserve Bank of India in 2004. It intended to simplify and streamline the process of remitting funds outside India.
How much does Flywire charge for international students?
There will be no additional charges using Flywire. Typically banks and forex companies charge nostro fees, etc at a later date, with Flywire, we will display the final amount that you need to pay (including taxes) during the payment process. Will the beneficiary or receiving bank charge an incoming wire fee?
What is the lrs form in Flywire?
Under the Liberalised Remittance Scheme (LRS), the Indian government and the Reserve Bank of India (RBI) now require an LRS Declaration form (fully titled A2 LRS Declaration) to transfer funds abroad. If you select to pay via Domestic Bank Transfer in INR, you may be required to fill out and submit this form.
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