For private visits abroad, any resident can obtain foreign exchange up to USD 2,50,000 or equivalent in one financial year under the Liberalised Remittance Scheme (LRS) , irrespective of the number of visits undertaken during the Financial Year.
As per RBI – Individuals can avail of foreign exchange facility for the following purposes under Liberalised Remittance Scheme (LRS) limit of USD 2,50,000 equivalent in an financial year
The Liberalised Remittance Scheme (LRS) lays down the guidelines for outward remittances from India. It is part of the Foreign Exchange Management Act (FEMA) 1999 by the Reserve Bank of India (RBI). Under the LRS, the upper limit of remittance is $2,50,000 per financial year
- Private visits to any country (except Nepal and Bhutan)
- Gift or donation
- Going abroad for employment
- Emigration
- Maintenance of close relatives abroad
- Travel for business, or attending a conference or specialised training or for meeting expenses for meeting medical expenses, or check-up abroad, or for accompanying as attendant to a patient going abroad for medical treatment/ check-up
- Expenses in connection with medical treatment abroad
- Studies abroad
- Any other current account transaction which is not covered under the definition of current account in FEMA 1999.
The person must be a person resident in India as per FEMA. Once an individual is a resident under FEMA, he is eligible to avail benefits of LRS, whether or not he is an Indian citizen. However, LRS is not available to corporates, partnership firms, HUF, Trusts, etc.
For business trips abroad to countries other than to Nepal and Bhutan, a person can avail of foreign exchange up to USD 25,000 per visit.
You can purchase foreign currency notes up to USD 3000 or equivalent. Balance amount can be carried in the form of Travel Cards or Travelers Cheques.
It is a prepaid card in which multiple currencies can be loaded on a single card.
Multi-Currency Forex Card can be loaded with USD, EUR, GBP, SGD, AUD, CAD, SEK, JPY, CHF, AED, SAR, THB, HKD, DKK,NZD and ZAR .
In case you have exhausted the funds on the card, you can reload your card with additional funds. Call our sales representative or customer care to get it reloaded.
Original and valid passport
- Valid visa for the country of travel (except where VISA on arrival applies)
- Confirmed ticket-showing travel within 60 days of taking foreign exchange.
- PAN Card of the customer availing Forex & PAN Card of the person paying for Forex (in case of close relatives)
- Original and valid passport
- Valid visa for the country of travel (except where VISA on arrival applies)
- Confirmed ticket-showing travel within 60 days of taking foreign exchange
- PAN copy for all forex transactions in cases where total amounts exceed US Dollars 25000. Form 60 / 61 in case PAN not available
- Pan card is mandatory for transaction above Rs. 25,000 if payment mode is cash.
- Confirmed one-way Air ticket
- Original & Valid Passport along with the Student Visa.
- Prospectus/Offer Letter/Admission Letter in original, thereof giving full details of the course of study, tuition fees payable etc.
- In case of person traveling to USA Form I-20 is required.
- PAN copy for all forex transactions. Form 60 / 61 in case PAN not available
- Original and valid passport
- Valid visa for the country of travel (except where VISA on arrival applies)
- Confirmed ticket-showing travel within 60 days of taking foreign exchange
- PAN copy for all forex transactions in cases where total amounts exceed US Dollars 25000. Form 60 / 61 in case PAN not available
- Pan card is mandatory for transaction above Rs. 25,000 if payment mode is cash.Application / self declaration
No. There is additional charges for doorstep delivery. However, doorstep delivery is not available at few locations.
Normally, Forex will be delivered within 12 hours of booking or payment. However, sometime during peak season of travel, it might take 24 hrs to get it delivered.
Yes. GST is applicable on all Forex conversion on top of rate given to you.
- As stipulated by the Government of India, any conversion from one currency to another - sale, encashment & remittance will be charged a GST/SGST on the gross amount of currency exchanged as per the following slabs:
- - 0.18% of the gross amount of currency exchanged for an amount upto Rs 100,000, subject to the minimum amount of Rs 45
- - Rs 180 and 0.09% of the gross amount of currency exchanged for an amount of rupees exceeding Rs 100,000 and upto Rs 10,00,000
- - Rs 990 and 0.018 % of the gross amount of currency exchanged for an amount of rupees exceeding Rs 10,00,000, subject to a maximum of Rs.10,800/-