How much money can we bring from India (I am going to India on Vacation)?
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Dear All,
I am sorry if I didn't post this under right category.
I will be going to India on vacation and wanted to know if it is possible to get travellers checks of CAD 9000 from India, or if there is any restrictions imposed by RBI regarding maximum. amt which can be brought out of country?
I am Canadian PR holding Indian Passport.
Kindly advice,
Thanks!
Friends ..pls share your experience!
Thanks!
Location: God's own country
Posted on: 30-08-07 15:17:37
Vijaya,
By the time you waited for an answer you could have googled it.
The link is : http://us.makemytrip.com/travelbag/open-tickets-india.htm
The link is dated 2000 (maybe that was the last time it wass revised) and you can bring in Officially US$ 5000 a year. The amount of FE will be entered in your passport.
You can convert the money very easily at Thomas cook or other private FE converters. SBI offers the best rates but you may have to wait for 1/2 a day. SBI also will not accept cash. In 2002, SBI would not issue more than Rs. 50K in a draft and hence you may have to get multiple drafts.
Hope this answers your Q
TK A
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I am a Gents and not a Ladies.
The rules quoted by TK might not apply to you as they are for resident Indians. It depends on your source of these dollars . You can check here http://incometaxindia.gov.in/publications/9_Income_Tax_For_NRI/Chapter011.asp
Quote:
Originally posted by Vijaya31
Dear All,
I am sorry if I didn't post this under right category.
I will be going to India on vacation and wanted to know if it is possible to get travellers checks of CAD 9000 from India, or if there is any restrictions imposed by RBI regarding maximum. amt which can be brought out of country?
I am Canadian PR holding Indian Passport.
Kindly advice,
Thanks! [/quote
Thank you Dear!
I think just couple of month back the limit to bring money outside of india has been increased, but not finding any information on those updates?
Thanks!
Quote:
Originally posted by Vijaya31
Thank you Dear!
I think just couple of month back the limit to bring money outside of india has been increased, but not finding any information on those updates?
Thanks!
Yes RBI allows $10,000 per year for private visits abroad, but these are for resident indians only
Check http://www.rbi.org.in/scripts/FAQView.aspx?Id=53
7. How much foreign exchange can one buy when traveling abroad on private visits to a country outside India?
In connection with private visits abroad, viz., for tourism purposes, etc., foreign exchange up to USD10,000, in any financial year may be obtained from an authorised dealer on a self-declaration basis. The ceiling of USD10,000 is applicable in aggregate and foreign exchange may be obtained for one or more than one visit provided the aggregate foreign exchange availed of in one financial year does not exceed the prescribed ceiling of USD10,000 {The facility was earlier called B.T.Q or F.T.S.}. This limit of USD10,000 per financial year can be availed of by a person along with foreign exchange for travel abroad for any purpose, including for employment or immigration or studies. However, no foreign exchange is available for visit to Nepal and/or Bhutan for any purpose.
I wouldn't do what you are trying to do. Leave money in India and send money from Canada to India. That's what every none is doing here. That is the reason no knows the latest regulation of RBI.
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