Can Indians Invest Abroad Without RBI Approval?

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The RBI  has under Liberalized Remittance Scheme allowed all resident Indians to invest abroad in all kinds of investment except  prohibited items . The limit of  remittance abroad without approval of RBI is upto US Dollar 2,00,000  in one financial year. So now an Indian resident can approach its bank for remitting US Dollar 2,00,000 for following types…