The Liberalised Remittance Scheme (LRS) allows Indian residents and NRIs to remit up to $250,000 per financial year abroad for investments, education, and medical expenses. Recent changes—including higher TDS (Tax Deducted at Source) and stricter reporting norms—have created challenges for banks in retaining NRI clients.
Key LRS changes (2020–2023) and their impact on NRI remittances.
Competitive strategies by Indian banks (private vs. PSU) to retain NRI clients.
Case studies of successful NRI retention models.
Recommendations for banks to enhance NRI loyalty.
Key Insight: Banks must simplify compliance, offer bundled forex solutions, and improve digital experiences to retain NRIs amid tightening LRS norms.
Survey 50+ NRIs on LRS pain points (sample questionnaire available).
Compare 3 banks’ LRS fees, processing times, and client ratings.
Study RBI circulars on LRS changes (2020–23).
Calculate cost savings if a bank reduces LRS fees by 0.5%.
Use flowcharts (LRS process), before-after TDS impact graphs.
