General
Is it 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 purposes subject to
certain guidelines. For the convenience of the public, persons/firms holding full-fledged
money-changer's 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 to travel abroad?
The traveler 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
traveler?
A traveler 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 traveler draw foreign
exchange?
Sixty days. The ticket held by the traveler should be for a journey commencing not later
than sixty days from the date of withdrawal 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 U.S. $500 or its equivalent and the balance in the form of travelers 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 travelers so
desire.
Can a traveler draw any exchange for enroute expenses?
Yes, an outgoing traveler can draw foreign currency notes up to U.S. $ 50 or its
equivalent (up to 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
this 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 traveler 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 traveler can send advance remittances up to
reasonable limits through an authorised dealer towards his hotel accommodation, tour
arrangements, etc., to the countries proposed to be visited by him.
Can a traveler buy tickets in India for surface transportation abroad?
Yes. A traveler can 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 traveler buy telephone cards in India to be used abroad?
Yes. A traveler 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 up to U.S. $ 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.
Whether unspent foreign exchange brought back to India is required to be
surrendered by a traveler?
Yes. He can, however, retain foreign currency upto U.S. $ 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 authorized 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 traveler should be surrendered within 90 days
from the date of return.
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 traveler 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 traveler 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 drawal of
foreign exchange.
Can a traveler take with him any Indian currency when he goes abroad?
A traveler can take with him Indian currency notes and coins while going abroad (other
than to Nepal) up to Rs. 5000/-. Persons going to Nepal can take Indian currency notes of
the denominations up to Rs. 100 and Indian coins without any limit.
How much amount of Indian currency can a traveler 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 up to Rs. 5000/- 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 travelers 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 travelers cheques at any one time exceeds U.S. $ 10,000 or
its equivalent and/or the aggregate value of currency notes alone exceeds U.S. $ 5000/- or
its equivalent.
Private visits
Is a resident eligible for foreign exchange for private visits abroad?
Yes, under the Basic Travel Quota Scheme.
What is Basic Travel Quota Scheme (BTQ)?
Under the Basic Travel Quota (BTQ) scheme, resident Indian citizens are permitted to
purchase foreign exchange up to U.S. $ 5000/- its equivalent for undertaking in a calendar
year one or more private visits to any country abroad (except Nepal and Bhutan). The
foreign exchange can be purchased directly from any branch of an authorized dealer or from
a full-fledged money-changer(FFMC).
Who are eligible for drawal of exchange under the scheme?
All resident Indian citizens are entitled to draw full BTQ of U.S. $ 5000/- per year.
Can a person holding a student visa and proceeding abroad for studies get exchange
under BTQ?
Yes.
Can travel under BTQ be combined with visits for other purposes also?
Yes, travel under BTQ can be combined with visits for business, conference,
seminar, training, study tour, Haj pilgrimage and employment. Persons emigrating from
India and drawing foreign exchange for that purpose cannot, however, draw additional
exchange under BTQ.
Can a traveler avail of BTQ on outbound (one way) ticket also?
Yes.
Is BTQ facility available for more than one visit?
Yes, a person can avail of BTQ for more than one visit abroad, provided the total foreign
exchange drawn in a calendar year does not exceed U. S. $ 5000/- or its equivalent.
Can the unspent balance surrendered to an authorized dealer be drawn again while
undertaking a second visit in the same year?
No.
Business Visits
What is the procedure for drawal of foreign exchange for business visits abroad?
The sponsoring firm/company/organization (the applicant in cases of self-employed
professionals) should make an application for the release of exchange to an authorized
dealer or an authorized full-fledged money-changer by a letter, in duplicate, indicating
the name, address, nationality, passport number, duration, nature of visit to each
country, foreign exchange required and a certificate from the employer stating that the
expenses are being borne by them.
Exchange up to U.S. $ 25,000 can be released by authorized dealers regardless
Of the duration of the visit.
Participation in International Conferences/Seminars
What is the procedure for availing exchange facility for participation in
international conferences/seminars?
Applicant should submit to an authorised dealer a letter in duplicate from the sponsoring
institution (from the applicant in case of self-employed professionals). The application
should indicate the name, address, nationality and passport number, duration of visit,
foreign exchange required and a certificate from the employer that the expenses are being
borne by them. A brochure giving full particulars of the conference/seminar should also be
submitted along with the application. If the exchange asked for does not exceed U.S. $
25000, it will be released by authorized dealers regardless of the duration of the visit
and the per diem rate of exchange.
Specialised
Training/study tour/apprenticeship Training
What is the procedure for availing foreign exchange for specialized training/study
tour abroad?
Applicant should submit to an authorized dealer a letter in duplicate from the sponsoring
organization (from the applicant in cases of self-employed professionals). The application
should indicate the name, address, nationality, passport number, details of training/study
tour, country to be visited and foreign exchange required along with a letter from the
overseas institution agreeing to provide the necessary facilities for training/study tour.
How much foreign exchange can be availed of for specialized training/study tour?
If the exchange asked for does not exceed U.S. $ 25000, it will be released by authorized
dealers regardless of the duration of the visit and the per diem rate of exchange.
Studies Abroad
What are the criteria for release of foreign exchange for studies abroad?
Students holding Indian passports and who have secured admission in overseas
college/university/educational institution are eligible for release of exchange for
studies abroad. Students securing articleship offered by firms of Chartered Accountants in
the U. K. are also eligible for the facility.
Can a student desiring to go abroad for school education get foreign exchange?
Yes.
What is the procedure for drawal of exchange for studies abroad?
The student should apply to an authorized dealer in form TRS alongwith his passport,
original certificates (along with certified copies) of educational qualifications,
syllabus, details of the course of study, tuition fee payable, etc., as also the letter of
admission (original as well as certified copy) received from the foreign
university/institution indicating the date of commencement of course, degree/diploma it
leads to and the duration of the course.
What is the quantum of foreign exchange released for this purpose?
USD $30,000/- or as per the estimation of tuition fees, Maintenance Expenses etc. given by
the university whichever is higher.
What is the total duration for which exchange is released?
Exchange is released for the actual duration of the course as certified by the overseas
university/institution.
Can a student who had earlier gone abroad for prosecuting studies without availing
of exchange draw exchange for the balance period of studies?
Yes, provided he holds an Indian passport and produces appropriate documentary evidence,
indicating that he is continuing studies abroad.
Employment/Emigration
Abroad
How much foreign exchange can a person going abroad on employment avail of?
Up to U.S. $ 5000/-
How much exchange can an emigrating person draw?
Up to U.S. $ 5000/- per person, or amount prescribed by country of emigration, whichever
is higher.
Other Purposes
Can a person avail of exchange for visits abroad for private purposes other than
under BTQ Scheme?
Exchange is not normally granted for undertaking private visits abroad except under BTQ
scheme. In cases where it is essential for a person to visit abroad for any specific
personal reason, Reserve Bank will consider the request on merits.
Are any exchange facilities granted for undertaking pilgrimages outside India?
Exchange facilities for undertaking pilgrimages outside India are granted only for
specific pilgrimages. Persons intending to undertake Haj and Ziarat pilgrimages should
approach the Haj Committee at Saboo Siddique Musafir Khana, 1st Floor, Lokmanya Tilak
Marg, Mumbai, 400 001. Pilgrims intending to visit shrines in Pakistan should approach
Shiromani Gurudwara Prabhandhak Committee. Similarly pilgrims intending to undertake the
Kailash Mansarovar Pilgrimage should approach Ministry Delhi.
What is the procedure for availing of exchange facilities for undertaking cultural
tours abroad?
Dance troupes, artistes, etc., who wish to undertake cultural tours abroad should apply to
the Ministry of Human Resource Development (Department of Education and Culture).
Government of India, New Delhi for necessary approval. Authorized dealers will release
exchange on the basis of the Ministry's approval.
What is the procedure for availing exchange facility for participation in sports
events abroad?
Applicants wishing to participate in sports events abroad should apply to the Department
of Youth Affairs and Sports, Ministry of Human Resource Development, Government of India,
New Delhi for recommendation. Authorized dealer will release exchange on the basis of this
recommendation.
The eligibility/entitlement are subject to change from time to time as per notifications
issued by the Reserve Bank of India. For further clarification /information, please
contact your foreign exchange Dealer.
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