Explain the permissible capital account transactions by an individual under the liberalised remittance scheme.

The permissible capital account transactions by an individual under Liberalised Remittance Scheme are: Opening of foreign currency account abroad with a bank. Purchase of property abroad. Making investments abroad- acquisition and holding shares of both listed and unlisted overseas company or debt instruments. Acquisition of qualification shares of an overseas company for holding the post of Director, acquisition of shares of a foreign company towards professional services rendered or in lieu of Director's remuneration. Investments in units of Mutual Funds, Venture Capital Funds, Unrated debt securities, promissory notes. Setting up wholly owned subsidiaries and Joint Ventures outside India for bonafide business subject to the stipulated terms and conditions. Extending loans including loans in Indian rupees to Non-Resident Indians (NRIs) who are relatives as defined in the Companies Act.