MD on other Remittance Facilities Flashcards
Limit for Travellers proceeding to countries other than Iraq, Libya, Islamic Republic of Iran, Russian Federation and other Republics of Commonwealth of Independent States (LIRI) ……………..
upto USD 3000 or equivalent per visit
Limit for Travellers carrying foreign currency to Iraq and Libya
Upto USD 5000 per visit
Limit for Travellers carrying foreign currency to Islamic Republic of Iran, Russian Federation and other Republics of Commonwealth of Independent States
Full Exchange (i.e. USD 2,50,000)
Limit for Haj/ Umrah Pilgrimage
Specified by Haj Committee
Forex have to be surrendered within …….. days
180
A returning traveller is permitted to retain with him, foreign currency, travellers’ cheques and currency notes up to an aggregate amount of ……….. and foreign coins without any ceiling beyond 180 days.
USD 2000
Redemption of unutilized balance on prepaid travel cards is to be done after …. days from the date of last transaction.
10
A small balance not exceeding……….., has to be retain in prepaid forex cards for meeting any pipeline transactions till the completion of the respective settlement cycle.
USD 100
General permission is available to persons other than individuals to remit towards donations up-to …………………………. for creation of chairs in reputed educational institutes, (b) contribution to funds (not being an investment fund) promoted by educational institutes; and (c) contribution to a technical institution or body or association in the field of activity of the donor Company.
1% of forex earnings of previous 3 Financial years or USD 5 Million, whichever is less.
Remittances by persons other than individuals shall require prior approval of the Reserve Bank of India if commission per transaction to agents abroad for sale of residential flats or commercial plots in India exceeds
USD 25,000 or five percent of the inward remittance whichever is more.
Remittances by persons other than individuals shall require prior approval of the Reserve Bank of India if remittances exceed ………………….. per project for any consultancy services in respect of infrastructure projects and ……………… per project, for other consultancy services procured from outside India
USD 10 million and USD 1 million
Remittances by persons other than individuals shall require prior approval of the Reserve Bank of India for remittances exceeding………………………………………, by an entity in India by way of reimbursement of pre-incorporation expenses
five per cent of investment brought into India or USD 100,000 whichever is higher
Issuance of guarantee for amount not exceeding …………….. or its equivalent in favour of a non-resident service provider, on behalf of a resident customer who is a service importer.
USD 500,000
Issuance of guarantee in case of a Public Sector Company or a Department/ Undertaking of the Government of India/ State Governments, approval from the Ministry of Finance, Government of India for issue of guarantee for an amount exceeding ……………. or its equivalent would be required
USD 100,000
