Explanation:

Under the Liberalised Remittance Scheme (LRS) managed by the Reserve Bank of India:

- Option 1: USD 3,00,000 - Incorrect. The cap was not set at this amount.

- Option 2: USD 3,50,000 - Incorrect. The limit is not this high.

- Option 3: USD 2,00,000 - Incorrect. This would be too low based on recent guidelines.

- Option 4: USD 2,50,000 - Correct. This is the current permitted limit under LRS for resident individuals per financial year.

- Option 5: USD 1,00,000 - Incorrect. This is below the approved threshold.

The LRS allows individuals to remit money abroad for various purposes including education, travel, business trips, and investments.