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Facilities for Residents

Facilities for Residents


Remittance by residents is allowed on the basis of self-declaration incorporating the basic details of the transaction for the following current account transaction up to amount mentioned against each:-

Private Visit Abroad Per Financial Year:

For private visits abroad, other than to Nepal and Bhutan, viz., for tourism purposes, etc., any resident can obtain foreign exchange up to an aggregate amount of USD 10,000, from an Authorised Dealer branch, in any one financial year, on self-declaration basis, irrespective of the number of visits undertaken during the year. This limit of USD 10,000 or its equivalent per financial year for private visits can also be availed of by a person who is availing of foreign exchange for travel abroad for any purposes, such as, for employment or immigration or studies.


No foreign exchange is available for visit to Nepal and/or Bhutan for any purpose

Residents can indefinitely retain foreign exchange up to USD 2000 in the form of foreign currency Notes TCs and use it later. The unspent foreign currency amount and TC’s over and above USD 2000 has to be surrendered to bank within 180 days of date of return.

Employment Abroad:

A person going abroad for employment can draw foreign exchange up to USD 100,000 from any Authorised Dealer in India on the basis of self-declaration.


A person going abroad on emigration can draw foreign exchange up to USD 100,000 on self- declaration basis from an Authorised Dealer in India. This amount is only to meet the incidental expenses in the country of emigration.

Medical Treatment Abroad:

A person going abroad for medical treatment can avail up to USD 100,000 on self declaration basis.

Maintenance of Close Relatives:

A person can remit up to USD 100,000 for maintenance of close relatives on self declaration basis.

Liberalised Remittance Scheme for resident individuals:

Under Liberalised Remittance Scheme of RBI, remittance by individual up to US Dollar 2,50,000 (increased from USD1,25,000)per financial year is freely allowed for any permissible current or capital account transaction or a combination of both. Individuals can also open, maintain and hold foreign currency account with a bank outside India for making remittance without prior approval of RBI."

  • Remittance towards gift and donation by resident individual is allowed within the overall limit of US DOLLAR 1,25,000 under Liberalised Remittance Scheme
  • Investment by resident individual in overseas company would be subsumed under the limit of US DOLLARS 1,25,000. The earlier requirement of 10% reciprocal share holding in the listed Indian companies by such overseas companies has been dispensed with.

Remittance of net salary by Indian nationals on deputation to India from overseas company is allowed for the maintenance of close relatives residing abroad.

Resident individuals who are either employees or a director of an Indian office or a branch of a foreign company in which the foreign holding is not less than 51%, is permitted to acquire foreign securities under ESOP scheme without any monetary limit. Shares so acquired can be sold without RBI permission provided the proceeds thereof are repatriated to India.

A person resident in India may open, hold maintain a foreign currency account, to be known as RFC (domestic) account, out of foreign exchange acquired in the form of currency notes, bank notes and travellers’ cheques.

  • While on a visit to any place outside India by way of payment for services not arising from any business or anything done in India or
  • From any person not resident in India and who is on visit to India, as honorarium or gift or for services rendered or in settlement of any lawful obligations or
  • By way of honorarium or gift while on a visit to any place outside India or
  • Represents the unspent amount of foreign exchange acquired by him from an authorized person for travel abroad.

There is no ceiling on how much foreign exchange you can keep in these accounts. The balance in these accounts can be used for any purpose for which foreign exchange can be bought from a bank in India. However RFC(D) Accounts are NOT interest bearing.

Balances in the RFC (D) accounts may be credited to your NRE account consequent upon change of your residential status from resident to non-resident


Residents may extend hospitality to non-residents and book their air tickets against prior inward remittance. Residents may book tickets in India for their visit to any third country sector. That is, Residents can buy their tickets for travel to London/New York through domestic/foreign airlines in India itself.

A resident close relative of an NRI can repay the housing loan in rupees availed of by the NRI from AD/housing Finance Institution in India.

Resident share holders of Indian companies, who offer their shares for conversion to ADRs/GDRs under the scheme of sponsored ADRs/GDRs, can receive the sale proceeds in foreign exchange. The proceed can be credited to their RFC (D) Account.

Remittance for royalty & payment of lump sum/ fee is allowed provided royalty does not exceed 5% on local sales & 8% on exports & lump sum/fee payment does not exceed US Dollar 2 Mio.

Tour operators are allowed to remit the cost of rail/road/water transportation charges outside India without any prior approval from RBI net of commission/mark up due to the agent.

Foreign currency account may be opened in the name of agents in India who have tie up arrangements with hotels/agents etc abroad for providing hotel accommodation or for making other tour arrangement for travelers from India subject to certain conditions.

Remittance for advertisement on foreign television channels is allowed to advertisers.

Remittance by way of commission to agents abroad for sale of residential flats/commercial plots in India is allowed up to US Dollar 25000 or 5% of the inward remittance, per transaction whichever is higher.

Remittance towards consultancy services procured from outside India up to US Dollar 1 Mio per project is freely allowed.

A.D. banks may allow the remittance towards hiring of transponders by TV channels & internet services after the permission of the ministries concerned.


For Hot Listing (Blocking)
ATM/Rupay Cards
(By SMS) 9223815844
For Debit Freeze Account
(By SMS) 8828837411
For Phone Banking Services
(Call) 1800-22-1908
For Balance Enquiry
(By Missed Call) 7039035156 (Toll Free)
All India Toll Free 1800-419-8300