Rs 1 L p.m. is ridiculously low. If an NRI wants to buy a property for Rs 1 cr it would take him 8 yrs to transfer the money! By that time the property value would have gone up 5x.

With the Indian govt constantly seeking to boost forex reserves and improve the balance of payments it makes no sense to restrict the inflows.

The restriction could perhaps apply to non-banking channels eg WU where bonafides of the remitter are hard to establish - but not to banking customers where customers are known through KYC norms. A quick call to ICICI or SBI will do.

one of my friend had sent $40K (more than 15 lakhs) to India through ICICI Bank Canada in one transaction. (2 years before).

Thanks,

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Success is Never Ending and Failure is Never Final.

Hi friends ,
Below here is excerpts from email I receiced from ICICI bank .


"If you wish to send money through our internet banking platform, you can send up to C$6,000 per day, i.e. C$3,000 to your receiver's account with ICICI Bank Limited in India, plus an additional C$3,000 per day to your receiver's account with any other bank in India. If you wish to use our money transfer service over the phone, you can call us any time, we are open 24/7 to serve you, plus there is no upper limit on the money transfer amount*.
For assistance or more information, please visit our website at http://www.icicibank.ca" rel="nofollow">LINK or call our 24/7 Customer Contact Centre, toll-free at 1-888-424-2422.
We look forward to many more opportunities to be of service to you!"

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mor

Whenever you experience joy, peace, security, equanimity or purity, it is only because you are aligned with ALMIGHTY.

Try UAEExchange, i compared the rates and they seem to have the best rates and also the fastest mode of sending money..

Use debit card to pay , money will be in account in 12 to 48 hrs..

I have send 5000$ no problems...