Effective October 1, 2026, the RBI has removed monetary limits on online submission of Form A2 for foreign remittances. The change, under A.P. (DIR Series) Circular No. 23, allows unrestricted digital processing of remittances under the Liberalised Remittance Scheme (LRS).
RBI Removes Remittance Limits on Online Form A2 Submission
The Reserve Bank of India has eliminated transaction value thresholds for online submission of Form A2, effective October 1, 2026. Previously, only remittances below specified amounts could be processed online; now, all transactions under the Liberalised Remittance Scheme (LRS) can be filed digitally.
The move, detailed in A.P. (DIR Series) Circular No. 23, mandates Authorised Dealers (ADs) Category I and II to frame internal guidelines ensuring compliance with anti-money laundering (AML) and Know Your Customer (KYC) standards despite the removal of procedural caps.
This reform enhances ease of doing business and supports digital financial inclusion. High-value remittances, including for education, medical treatment, and investments, can now be processed faster without physical documentation.
AD banks must strengthen monitoring mechanisms to detect suspicious transactions. The change reflects RBI’s trust in digital verification tools and risk-based supervision models. Practitioners should update client advisories and internal workflows accordingly.