Master Direction – Other Remittance Facilities
This Master Direction outlines the guidelines for release of foreign exchange by Authorised Dealers and remittance facilities for resident individuals.
Prohibitions: Authorised Dealers are prohibited from releasing foreign exchange for certain purposes, including fraudulent offers.
Remittance Facilities for Resident Individuals:
These facilities include:
– Travel: Remittance for travel purposes is allowed.
– Remittance of salary: Remittance of salary earned abroad is permitted.
– Meeting of medical expenses of NRI close relatives: Resident individuals can remit funds for medical expenses of their NRI close relatives.
– International Credit/Debit Cards and Store Value Cards: Authorised Dealers in India can issue these cards, and residents can use them for international transactions, including airline ticket payments.
– Redemption of unutilized balance on prepaid travel cards: Residents can redeem unutilized balances on prepaid travel cards.
Note: These facilities are subject to certain conditions and guidelines as outlined in the Master Direction.
Chat with the Master Direction:
Download: Master Direction – Other Remittance Facilities (Updated as on April 03, 2024)