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Eligibility
- Resident Indians (ICICI Bank A/c holder & Non ICICI Bank A/c Holder)
- Foreign Nationals and NRI's – In case of reconversion of unspent INR
- Foreign Nationals holding a Resident Permit issued by the Office of the Commissioner of Police*
- NRI's/Foreign Nationals who are employed in India and are receiving salary in Indian Rupees*
Documentation required
| Purpose of Travel | Limits as per FEMA | Documentation for ICICI Bank account holders | Documentation for non ICICI Bank account holders** |
|---|---|---|---|
| Leisure travel/ Private Visit | Maximum of USD 10,000 or equivalent in a financial year (April1- March 31) |
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| Business travel | Maximum of USD 25,000 equivalent to a person per visit , irrespective of period of stay |
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| Medical Treatment Abroad | Maximum of USD 100,000 equivalent per Medical trip |
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| Maintenance Expense of Patient/ or Accompanying Attendant for Medical Treatment/ Check- Up abroad |
Maximum of USD 25000 per visit can be issued |
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| Persons going abroad for employment | USD 1,00,000 equivalent. |
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| Emigration | USD 1,00,000 Equivalent. |
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| Studies abroad | USD 1,00,000 equivalent per academic year |
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| Cultural Tours | Foreign exchange released would be on the strength of the sanction from the Ministry of Human Resources Development (Dept of Education and Culture) |
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Exceptions
- Travelers proceeding to Iraq and Libya can draw foreign exchange in the form of foreign currency notes not exceeding USD 5000 or its equivalent.
- Travelers proceeding to Islamic Republic of Iran, Russian Federation and other Republics of Commonwealth of Independent States (CIS): Full exchange may be released in foreign currency notes.
Note
- A maximum of USD 3,000 can be issued in cash and the balance in the form of Travelers Cheques/Travel Card.
- No foreign exchange to be released in case passenger is traveling to Nepal or Bhutan.
- These are current limits as per the Foreign Exchange guidelines issued by RBI and subject to change.
With effect from April 1, 2011 the Service Tax applicable for all Forex sale and purchase transactions would be as per the slabs provided below
| Transaction Amount | Service Tax applicable (including education cess) |
|---|---|
| Upto rupees 1,00,000/- (one Lakh) | 0.1236% or INR 31 (i.e. Rs. 30 + 3% cess) whichever is higher |
| Rupees 1,00,000/- to 10,00,000 | INR 124/- + 0.0618% on amounts over 1,00,000/- |
| Above Rs. 10,00,000 | INR 680/- + 0.01236% on amounts over 10,00,000/- Charge upper cap - RS 6,180/- |
*Foreign nationals permanently resident in India are eligible to avail of foreign exchange for private visits provided the applicant is not availing of facilities for remittance of his salary, savings, etc., abroad in terms of extant regulations.
**Forex@Click facility is not available for non ICICI Bank Account holders
