Is one required to surrender foreign coins also to an authorised dealer?
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Within what period a traveller who has returned to India is required to surrender foreign exchange?
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On return from a foreign trip travellers are required to surrender unspent foreign exchange held in the form of currency notes within 90days and travellers’ cheques within 180 days of return. However, they are free to retain foreign exchange upto ...
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Foreign ExchangeHow much foreign exchange can one buy when going for tourism to a country outside India ?
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In connection with private visits abroad, viz., for tourism purposes, etc., foreign exchange up to USD10,000, in any one calendar year may be obtained from an authorised dealer. The ceiling of USD10,000 is applicable in aggregate and foreign exchange may ...
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Foreign ExchangeDo we need to take permission from RBI or Govt. of India for going abroad ?
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Dance troupes, artistes, etc., who wish to undertake cultural tours abroad, should obtain prior approval from the Ministry of Human Resources Development, Government of India, New Delhi.
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Foreign ExchangeAccording to RBI “Who is a resident of India” ?
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In terms of Section 2(v) of FEMA, 1999, a "person resident in India" means –a person residing in India for more than one hundred and eighty-two days during the course of the preceding financial year ...
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Foreign ExchangeWho is an authorized dealer in Foreign Exchange according to RBI ?
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An authorized dealer is normally a bank specifically authorized by the Reserve Bank under Section 10(1) of FEMA,1999, to deal in foreign exchange or foreign securities.
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Foreign ExchangeHow much foreign exchange can be purchased in foreign currency notes while buying exchange for travel abroad?
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Travellers are allowed to purchase foreign currency notes/coins only up to USD 2000. Balance amount can be taken in the form of traveller’s cheque or banker’s draft. Exceptions to this are
(a) travellers proceeding to Iraq and ...
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Foreign ExchangeWhat is the benefit of EEFC Account ?
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