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RBI Norms

RBI Norms

RBI Guide Lines On Eligible Foreign Exchange For Travel Abroad

Facilities for Residents Individuals:

Education Abroad / Medical treatment abroad / Employment abroad / Emigration / Maintenance of close relatives abroad :

Foreign exchange up to USD 100,000 is allowed on the basis of self-certification. For students the limit of USD 100,000 is applicable for each academic year. For medical treatment in addition to USD 100,000, as stated above, foreign exchange up to USD 25,000 can be taken for meeting boarding/lodging/travel expenses of the patient and also for the accompanying attendant on a declaration. Amounts in excess of the limits can be released on basis of documentary evidence of the requirement.

International Credit Cards

Surrender of Foreign Exchange on Return

Foreign exchange up to USD 2,000, in the form of foreign currency notes or Travellers' Cheques (TCs) can be retained indefinitely for future use. Amounts in excess of USD 3000 have to be surrendered to a bank within 90 days and TCs within 180 days of return or credited to RFC (D) account. Foreign coins can be retained indefinitely without any limit.

Liberalized Remittance Scheme of USD 200,000/- for Resident Individuals

Resident Individuals may remit up to USD 200,000/- per financial year for any current or Capital account transaction or a combination of both subject to Reserve Bank’s rules in this regard.

This facility is available for making remittance up to USD 200,000/- per financial year for any current or Capital account transactions or a combination of both.

This facility is available in addition to those already available for private travel, business travel, donations, studies abroad, medical treatment etc. as described in the Schedule III of FEMA (current account transactions) Rules 2000.

Cash payment maximum amount as permitted by RBI:

Official Partners:

Midas Touch Forex and Travels have tied up with the big names in the industry to undertake Remittance transactions.