Indian economy is witnessing progressive change, which requires easy flow of foreign exchange, both inward and outward. The Reserve Bank of India (RBI) has purposes. This note summarises few of the important purposes for which foreign exchange could be acquired under the automatic route, i.
e., without seeking specific approval from the RBI, as per the current foreign exchange regulations. other personal purposes.
Unlike in the past, it is now easier to acquire foreign exchange for overseas travel. Resident individuals can acquire foreign exchange up to $10,000 per calendar year for their overseas travel except for visits to businesses are globalising and increasingly looking at overseas markets. This entails increase in foreign travel for business purposes.
Currently, foreign exchange up to $25,000 can be acquired for business travel or attending conferences or training programmes, etc.
News RSS