| Is
its necessary for a person to obtain permission of the
Reserve Bank for undertaking travel abroad? |
| No.
Tickets for travel abroad can be freely purchased by
residents from any airline/ shipping company or their
agents in India. |
| |
| Is
permission of the Reserve Bank required for purchase
of foreign exchange for travel abroad? |
| No.
Authorised dealers viz.; banks authorised to deal in
foreign exchange, have been permitted to release foreign
exchange for travel abroad for various f2f2f2purposes
subject to certain guidelines. For the convenience of
the public, persons/firms holding full fledged money
changers licences from the Reserve Bank have also been
delegated powers for release of exchange for certain
limited purposes. |
| |
| What
are the basic requirements for obtaining foreign exchange
for travel abroad ? |
| The
traveller should possess a valid passport authorising
travel to the countries proposed to be visited and a
ticket issued for a journey to those countries. |
| |
| What
are the various purposes for which foreign exchange
can be drawn by a traveller ? |
| A
traveller can draw foreign exchange for private visits,
business visits, participation in conferences/seminars,
specialised training, study tour, higher studies, medical
treatment or for employment/ emigration abroad, etc. |
| |
| How
many days before the commencement of a journey can a
traveller draw foreign exchange? |
| Sixty
Days. The ticket held by the traveller should
be for a journey commencing not later than 60 days from
the date of drawl of foreign exchange. |
| |
| Can
foreign exchange for travel abroad be purchased from
banks against rupee payment in cash ? |
| A
person can purchase foreign exchange for travel abroad
against payment in cash if the rupee equivalent payable
by him does not exceed Rs. 50,000. If the rupee value
of foreign exchange exceeds Rs. 50,000 the entire payment
should be made by way of a crossed cheque drawn on applicant's
bank account or the bank account of the firm/company
sponsoring the visit. Payment in such cases can also
be made in the form of a banker's cheque/pay order/demand
draft. |
| |
| Can
a person get the foreign exchange in the form of foreign
currency notes/coins ? |
| Foreign
exchange will be released by banks in the form of foreign
currency notes/ coins up to US $ 500 or its equivalent
and balance in the form of travellers cheques /demand
draft / mail transfer / telegraphic transfer. |
| |
| Is
there any exception to this rule? |
| Yes.
Travellers Proceeding to Islamic Republic of Iran, Russian
Federation and other Republics of Commonwealth of Independent
States are released foreign exchange in the form of
foreign currency notes and coins up to their full entitlement,
if the travellers so desire. Similarly, for travel to
Iraq or Libya, exchange up to two weeks can be drawn
in the form of foreign currency notes and coins. |
| |
| Can
a traveller draw any exchange for enroute expenses? |
| Yes.
An outgoing traveller can draw foreign currency notes
up to US $ 50 or its equivalent (upto the equivalent
of Indian Rs. 100 if he is proceeding to Bangladesh)
from an exchange bureau at an airport or seaport for
his enroute expenses. He can also draw his amount from
a city branch/office of an authorised dealer one month
in advance on production of a confirmed journey ticket.
This will be in addition to the exchange purchased by
him for travel purposes. |
| |
| Can
a traveller remit a part of his foreign exchange entitlement
for his hotel accommodation, tour arrangements, etc.
without the prior approval of the Reserve Bank ? |
| Yes.
Out of his exchange entitlement a traveller can send
advance remittances upto reasonable limits through an
authorised dealer towards his hotel accommodation, tour
arrangements, etc., to the countries proposed to be
visited by him. |
| |
| Can
a traveller buy tickets in India for surface transportation
abroad ? |
| Yes.
A traveller buy tickets in India for surface transportation
abroad against payment either in rupees or in foreign
exchange from approved agents of overseas rail/road
transport organisations. |
| |
| Can
a traveller buy telephone cards in India to be used
abroad? |
| Yes.
A traveller going abroad other than for employment or
emigration can buy pre-paid telephone cards in India
against payment in rupees from approved Indian agents
of overseas companies. |
| |
| Can
residents hold any foreign currencies with them and
take out such currencies held during their visits abroad
? |
| Yes.
The Reserve Bank has granted general permission to persons
resident in India to hold foreign currency/ies upto
US $ 2000 or its equivalent for personal purposes. They
are also permitted to take out the foreign currency/ies
so held during their visits abroad over and above the
foreign exchange purchased for purposes of travel. |
| |
| Can
unspent foreign exchange brought back to India is required
to be surrendered by a traveller? |
| Yes.
He can, however, retain foreign currency upto US $ 2000
or its equivalent (including foreign exchange, if any,
already held by him) for personal purposes, under the
general permission given to persons resident in India
to hold foreign currency and surrender the balance to
an authorised dealer or a money changer against payment
in rupees. |
| |
| What
is the time limit for surrender of unspent exchange? |
| Unspent
exchange brought back to India by a traveller should
be surrendered within 90 days from the date of return
if it is in the form of currency notes. Exchange in
the form of travellers cheques can be surrendered within
180 days. |
| |
| What
is the time limit for surrender of foreign exchange
already drawn, if the journey is cancelled? |
| In
the event of cancellation of the journey, foreign exchange
drawn by a traveller should be surrendered within 30
days from the date on which he comes to know that the
foreign exchange drawn cannot be used for the travel. |
| |
| If
the journey is postponed, can a traveller retain the
foreign exchange already drawn, for his travel at a
later date? |
| Yes.
provided the postponed journey commences within 60 days
from the date of drawl of foreign exchange. |
| |
| Can
a traveller take with him any Indian currency when he
goes abroad? |
| A
traveller can take with him Indian currency notes and
coins while going abroad (other than to Nepal) upto
Rs. 1000. Persons going to Nepal can take Indian currency
notes of the denominations upto Rs. 100 and Indian coins
without any limit. |
| |
| How
much amount of Indian currency can a traveller bring
back while returning from abroad? |
| Persons
returning from Nepal can bring Indian currency other
than notes in the denominations exceeding Rs. 100 without
limit. Persons returning from other countries can bring
Indian currency upto Rs, 1000 which was taken out by
them while going on a temporary visit abroad. |
| |
| Are
there any restrictions to bring foreign exchange by
persons visiting India ? |
| No.
The Reserve Bank has granted general permission to incoming
travellers to bring foreign currency into India from
any place outside India without limit, provided they
declare to the Customs authorities, on arrival at the
airport/seaport, the particulars of all such foreign
currency brought in on the Currency Declaration Form
(CDF). The declaration is necessary if the aggregate
value of the foreign exchange brought in, in the form
of currency notes, bank notes or travellers cheques
at any one time exceeds US $ 10,000 or its equivalent
and/or the aggregate value of currency notes alone exceeds
US $ 2,500 or its equivalent. |
