Instituted by the RBI, the LRS is a set of policies that governs the maximum amount and purposes of remittance. Under the LRS, an individual can annually send up to USD $250,000 abroad without seeking approval from the RBI. The LRS has made it easier for Indian residents to study abroad, travel, and make investments in other countries. For more information, you can read more here. For the most up to date regulations regarding the LRS please visit here. Please see article 6(iii) for specific LRS regulations regarding investments in equity.