The Reserve Bank of India had Issued the guidelines to all residents, non residents and foreigners for purchasing, surrendering foreign exchange. RBI (Reserve Bank of India) is the central bank of the india and that has the authority to issue guidelines regarding the Foreign Exchange Transaction. (Web site www.rbi.or.in).Contravention of any law is punishable by the provision of FEMA and other indian laws which are applicable for that offense. We are here providing very precise information about the Foreign Exchange transaction rules. for Detailed and Updated information about the Forex facilities please visit (www.rbi.org.in->FEMA->FAQ). Whatever information we are giving here is for reference use only and need further consultation and cross check from RBI Office. We are not liable for ANY consequences, which may arise due to these information. So please visit RBI sites for updated information regularly.
Foreign exchange can be purchased from any authorised dealers, full-fledged money changers for business and private visits. If you are a Resident Indian, you can buy foreign exchange without permission from the Reserve Bank of India for
You can avail of foreign exchange upto US$ 10,000 in any calendar year for tourism or private travel to any country other than Nepal and Bhutan on the basis of self-certification.
You can avail of foreign exchange upto US$ 25,000 for a Business Trip to any country other than Nepal and Bhutan on the basis of certification. .
STEP 1: Visit at our branch with the following information:
* The Money Transfer Control Number (MTCN) from your Sender's receipt is required.
* Sender's first and last names.
* City and Country the money was sent from.
* The amount that was sent.
* Your first and last names, address, and telephone number.
STEP 2: Identify Yourself.
* Simply give the Agent your identification card such as Passport,Driving Licence,Registration Certificate ,PAN Card with address proof
STEP 3: Sign the Receipt
* Review and sign the receipt that we gives you.
STEP 4: Receive the Money
* We will give you the money that was sent to you.