Daily Email Newsletter (Sign-up Free)

Max. foreign currency one can buy by "cash" payment for travel abroad

Ques.

Can one pay by cash full rupee equivalent of foreign exchange being purchased for travel abroad?

Ans.

Foreign exchange for travel abroad can be purchased from an authorized person against rupee payment in cash below Rs. 50,000/-.

However, if the sale of foreign exchange is for the amount equivalent to Rs 50,000/- and above, the entire payment should be made by way of a crossed cheque/ banker’s cheque/ pay order/ demand draft/ debit card / credit card / prepaid card only.


Ref: RBI

No comments:

Post a Comment

In comment with "Name/Url" option, only Name is mandatory to be filled.

Search

More Info