The Liberalised Remittance Scheme (LRS) regulation in India has been revised, making it difficult for wealthy Indians to accumulate wealth in offshore bank accounts. Under the new rule, if an individual has legitimate money outside India in the form of foreign exchange, they must either invest it or use it within 180 days of realisation.
source https://www.caclubindia.com/articles/new-lrs-regulations-cause-concern-for-wealthy-indians-parking-funds-abroad-49601.asp
source https://www.caclubindia.com/articles/new-lrs-regulations-cause-concern-for-wealthy-indians-parking-funds-abroad-49601.asp
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