Maximum Foreign exchange permissible in a financial year is up to US$ 250,000 for multiple purposes under LRS including tourism/private travel/education/medical etc to any country other than Nepal and Bhutan on the basis of self-certification in Form A2.
Foreign exchange for travel abroad can be purchased from an authorized person against rupee payment in cash upto Rs.49,999/-. If the sale of foreign exchange is for the amount equivalent to Rs 50,000/- and above, the entire payment should be made through banking channels. All purchases for single travel shall be treated as single transaction.
Travellers going to all countries other than (a) and (b) below are allowed to purchase foreign currency notes only up to USD 3000 per visit. Balance eligible amount can be carried in the form of, traveller card or banker’s draft. Exceptions to this are.
(a) Travellers proceeding to Iraq and Libya can draw foreign exchange in the form of foreign currency notes and coins not exceeding USD 5000 or its equivalent per visit.
(b) Travellers proceeding to the Islamic Republic of Iran, Russian Federation and other Republics of Commonwealth of Independent States can draw entire foreign exchange (up-to USD 250,000) in the form of foreign currency notes or coins.
For travellers proceeding for Haj/ Umrah pilgrimage, full amount of entitlement (USD 250,000) in cash or up to the cash limit as specified by the Haj Committee of India, may be released by the ADs and FFMCs.
Business customers can purchase US$250,000 for a year combined with other availment under LRS to any country other than Nepal and Bhutan for their visits for international conference, trainings, projects, promotions, etc. are treated as business visits.
NRI’s and Foreigners may convert the unspent Indian currency into foreign currency under Reconversion, provided a valid Encashment Certificate is produced during departure from India.
Authorised Persons may convert at their discretion, unspent Indian currency up to Rs.10,000 in the possession of non-residents if, for bonafide reasons, the person is unable to produce an Encashment Certificate after ensuring that the departure is scheduled to take place within the following seven days.
Authorised persons may provide facility for reconversion of Indian Rupees to the extent of Rs.50,000/- to foreign tourists (not NRIs) against ATM Receipts based on the following documents.
Valid Passport and VISA Ticket confirmed for departure within 7 days Original ATM slip (to be verified with the original debit/ credit card)