Rules governing foreign exchange transactions come under RBI’s LRS
Remit foreign exchange only for current account/capital account/combination of both
Remit a higher amount than USD 2,50,000 by consolidating limits of family members
For capital account transactions clubbing of limit not permitted unless they are co-owners
Forex purchase needs to be made from an authorised dealer (AD)
S&P 500 the top-most single indicator of large-cap US stocks
S&P 500 Index includes nearly 500 leading corporates
Nearly $10 trillion of global funds are indexed or benchmarked to it
Top 3 sectors in S&P 500 are IT, Health Care and Communication Services
Top 3 stocks in S&P 500 Index are Microsoft, Apple and Amazon by index weightage
LRS addresses all concerns related to foreign exchange
Remit up to 2.5 lakh US dollars (USD 2,50,000) in each financial year
Remit foreign exchange only for current account/capital account/combination of both
Shares & property investment defined as capital account transactions
Special rules for investment across shares and mutual fund schemes abroad
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