Last reviewed: · Curated by Ohmyfin Organisation editorial.
India's Liberalised Remittance Scheme (LRS) allows resident individuals to remit up to USD 250,000 per financial year for permitted purposes: education, travel, gifts, maintenance, and investment. INR payments are converted to USD at the RBI interbank rate and route from Indian banks (HDFC, ICICI, Axis, SBI) via SWIFT to a US correspondent (JPMorgan, Citibank, Bank of America), settling via Fedwire or CHIPS. RBI Form A2 and LRS documentation must be completed. OFAC screening applies at the US end. TCS (Tax Collected at Source) at 20% applies to LRS remittances above INR 700,000 per year (waived for education loans). Most GPI-enabled transfers credit within 1–2 business days. Track your UETR on Ohmyfin.
Settlement path: RBI RTGS → Fedwire / CHIPS via correspondent. Currency pair: INR → USD.
The three most common causes of delay on this corridor are: (1) RBI / FEMA outward remittance approval under the Liberalised Remittance Scheme (LRS), (2) OFAC sanctions screening at the US correspondent, and (3) INR-to-USD conversion at the Indian bank under RBI FX controls.
If the payment has not arrived within 4 business days, ask your sending bank to file an MT199 payment enquiry citing the UETR and the holding bank's BIC shown on the Ohmyfin GPI tracker.
Most SWIFT transfers on the India–United States corridor credit the beneficiary within 2 business days. In 95% of cases the payment arrives within 4 business days. The most common delay is rbi / fema outward remittance approval under the liberalised remittance scheme (lrs).
The three most common delay causes are: RBI / FEMA outward remittance approval under the Liberalised Remittance Scheme (LRS); OFAC sanctions screening at the US correspondent; INR-to-USD conversion at the Indian bank under RBI FX controls.
Track the UETR on Ohmyfin — the GPI status shows exactly which bank is holding the payment. If delayed beyond 4 business days, ask your sending bank to file an MT199 payment enquiry citing the UETR and the holding bank's BIC.
The dominant settlement path is RBI RTGS → Fedwire / CHIPS via correspondent. The currency pair is INR → USD.
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