To buy currency notes or travel card for your travel abroad following documents are required.

• Application cum declaration under LRS
• Passport
• Valid visa
• Confirmed ticket
• PAN card

There are 17 purposes for which you can send money abroad through RRSB forex. There are 7 more purposes for which money can be remitted overseas as RRSB forex has referral arrangement for these. For detailed documentation requirement of each category please refer to product - remittance section.

For buying exchange worth Rs. 50,000 and above the payment has to be mandatoriy through bank transfer. INR cash payment is allowed below Rs. 50,000 only. Splitting of payment between INR cash and cheque / bank transfer is not allowed.

Any amount of foreign exchange purchased by resident Indians is part of their annual LRS entitlement (Liberlised Remittance Scheme). As per current limits a resident indian can purchase upto USD 250,000 in a financial year for all purchases listed under LRS e.g. travel, higher studies, gift, maintenance of close relatives. This LRS limit is inclusive of LRS transactions of capital nature e.g. purchase of property abroad, investment in shares / subsidiaries. To track this usage PAN has been made mandatory and required for every release of exchange under LRS.

The authorised moneychanger has to verify originals while issuing forex. This is to part of KYC process and also required to avoid misuse of copies by someone.

It is advisable to carry invoice of foreign exchange purchase as it may be demanded at airport by agencies to ensure that the foreign exchange has been legitimately obtained by the traveler.

The foreign exchange can be purchased by minors also since every resident Indian is entitled for annual quota of LRS. However guardians / parents are required to countersign application for release of forex.

The unused LRS quota of USD 2.50 lacs per annum (as of now) for a resident Indian lapses on 31st March i.e. end of financial year. It is not allowed to carry forward unused balance to next financial year. From 1st April there is fresh quota of LRS available to resident Indians.

Remittance for following purposes comes under capital account transactions of LRS. RRSB forex has suitable arrangements to remit money for all following purposes (subject to satisfactory documentation). For documentation requirement please refer to product - remittance section.

• Bank account abroad
• Purchase of property abroad
• Investment abroad – in shares, mutual funds and in debt
• Investment in Subsidiary or joint venture abroad
• Loan to NRI relatives

This is part of LRS scheme (current account transactions). While Gift can be sent to foreign passport holder also, remittance for maintenance can be done for close relatives only. This is subject to satisfactory verification of remitter and supporting documents. No need of opening bank account for doing remittance under this purpose.

This is part of LRS scheme (current account transactions). While Gift can be sent to foreign passport holder also, remittance for maintenance can be done for close relatives only. This is subject to satisfactory verification of remitter and supporting documents. No need of opening bank account for doing remittance under this purpose.

There are four types of money changing licenses each type having defined scope by Reserve bank of India. RRSB Forex is authorised dealer Cat II having wide role of releasing exchange for 17 purposes. RRSB Forex undertakes overseas remittances for various purposes and makes all products available to travellers.

Following are the categories of moneychangers and their scope:

• Authorised dealer Cat I -Banks (Commercial, state / urban cooperative banks) - All Capital & Current account FX transactions
• Authorised dealer Cat II - Upgraded moneychangers & cooperative banks - Current account FX transactions (17 types)
• Authorised dealer Cat III - Financial institutions for whom forex is incidental - FX sale only for internal. No money changing business
• Full fledged money changer (FFMC) - Moneychangers with single/multiple locations (Min capital 25 or 50 lacs) - FX sale only for tourism & business, no remittance.

Traveler visiting multiple countries will be counted as single trip for issuance of forex. In a singled journey covering more than one country will be counted as one trip for issuance of foreign exchange. Maximum currency notes worth USD 3000 can be issued and balance amount to be taken in travel card or travellers cheque.

Travel card is most safe and convenient way of carrying forex abroad. Look at following banefits:

• Choice – from Visa & Master card.
• Wide acceptability – acceptable over 22 lacs ATMs worldwide and 7 lacs point of sale outlets.
• Secure – Chip based card protected from misuse.
• Online payment – the travel card can also be used for making foreign currency payments online.
• Tracking – funds usage, balance and history can be tracked online by the user.
• Top up – Forex gets loaded while traveler is abroad and in need of more funds.
• Accidental insurance – upto to a particular limit the insurance comes as added feature in most travel cards.

Resident Indians can encash upto USD 1000 equivalent against INR cash payment. Above this payment thrugh cheque / bank transfer only. Non residents / foreigners can be paid INR cash upto USD 3000 equivalent against encashment.

Foreigners working and permanently staying in India are eligible to buy forex for private visit. Those who are in India for a short term visa and not permanently staying are not eligible to buy forex.

PIO / OCI card holders not permanently staying in India - not eligible to buy forex. Only foreign passport holders who are permanently staying in India can buy forex for private visit.

Foreigners / non residents can reconvert INR into forex against their encashment certificate subject to following :

• Valid passport and visa required
• Departure from India is within 7 days (confirmed ticket required)
• Valid encashment certificate (Not needed upto INR 10,000)
• Against ATM slip upto Rs. 50,000

Yes. If the traveller has valid visa, travel card can be reloaded based on reload application from the traveller. If the traveller has come back to India the travel card can only be reloaded against fresh travel ticket (confirmed) and valid visa. Payment of reload has to come from bank account of traveller or from sponsoring companies account.

RRSB Forex is stockist of American Express travellers cheque for many decades. Each of units of RRSB forex has sufficient stock of travelers cheques in all major currencies. There is no extra fee on issuance of travellers cheques but at time of encashment while travelling overseas the outlet may charge fee. Also the number of outlets worldwide where travelers cheques can be encashed or used for buying something has gone down. With few outlets accepting travelers cheques many travelers prefer to carry forex in travel cards these days.

You can covert USD currency notes to Indian rupees (encashment) and from INR proceeds you can buy currency of the destination. RRSB forex provides 30 different types of currency notes covering most part of the globe.