ED probing legal remittance routes after note ban

Has 3-day meet on action plan; officials believe up to Rs 3,000 cr was taken out of the country

The legal routes available to resident Indians and companies to send money abroad are being examined by the Union finance ministry's Enforcement Directorate (ED).

The agency suspects some outward remittance routes, such as the Liberalised Remittance Scheme (LRS) and advance import remittances, could have been misused during the demonetisation drive. All categories of outward remittances are being looked into, to check whether the disclosure requirements and purpose of sending money was genuine, said a senior ED official.

The ED prepared a plan in a three-day meeting in Mumbai on January 17-19, chaired by its head, Karnal Singh. Personnel were directed to check