FOREX EXCHANGE FACILITIES FOR RESIDENT INDIVIDUALS
Students can make use of Foriegn Exchange Demand Drafts to apply to the desired universities, as well as fulfill thier semester fee requirements, all at competitive rates. Exchange can be released up to USD 100,000/- or equivalent per academic year. Against Cash up to Rs. 50,000/-, the student can avail of speedy Foriegn Exchange in the form of drafts to pay for his/her application fees to universities etc.
BASIC TRAVEL QUOTA (BTQ)
Individuals deciding to go abroad for a holiday can fulfill his/her Foriegn Exchange needs and can avail of BTQ up to USD 10,000/- per year or equivalent.
Individuals going abroad permanently can avail fo Foriegn Exchange facilities up to USD 100,000/- or equivalent OR the amount prescribed by Country of emigration.
Persons going abroad for employement can avail of Foriegn Exchange up to USD 1,00,000/- or equivalent.
An Individual wishing to avail of medical treatment abroad can acquire Foriegn Exchange up to USD 1,00,000/- or equivalent OR more as per estimate from the doctor in India or Hospital/Doctor abroad.
An Individual traveling abroad on business or attending a conference or specialised training can on behalf of his/her Company, avail of Foriegn Exchange up to USD 25,000/- or equivalent per visit irrespective of period of stay abroad.
GIFTS AND DONATIONS
Any resident of India can remit up to USD 5,000/- or equivalent (per remitter/ donor per annum) in a calender year, as a gift to a person residing abroad, or as a donation to a charitable/educational/religious/cultural organisation abroad.
Note : The above offers are subject to change as per RBI Regulations
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