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Groww halts investing in US stocks, asks users to withdraw or migrate by 30 June
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₹700,000 annually. Initially set at 5% in the 2021 Budget, it was increased to 20% from 1 October 2023.
Besides TCS, LRS remittances also incur significant foreign exchange conversion expenses and require extensive paperwork. Despite Groww's withdrawal, other fintech and brokerage firms like Vested Finance, Stockal, and Indmoney continue to offer US stock investments to Indian customers.
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