Spending in foreign exchange through international credit cards will be covered under the RBI's liberalised remittance scheme, under which a resident can remit money abroad up to a maximum of $250,000 per annum without the authorisation of the Reserve Bank of India, as per a finance m inistry notification.
The ministry on May 16 notified the Foreign Exchange Management (Current Account Transactions) (Amendment) Rules, 2023, to include international credit card payments in the LRS.