MISCELLANEOUS REMITTANCES FROM INDIA

RELEASE OF FOREIGN EXCHANGE BY AUTHORISED DEALERS

A.1 General

1.1 For release of foreign exchange to persons resident in India for various current account transactions, authorized dealers are to be guided by the Rules made by the Government of India under Section 5 of Foreign Exchange Management Act, 1999 which are detailed in the Foreign Exchange Management (Current Account Transactions) Rules, 2000 (Annexure I) notifed by the Government of India vide Notifcation No. G.S.R.381 (E) dated 3rd May 2000 (Rules). In terms of the said Rules, drawal of exchange for certain categories of transactions as listed in Schedule I is expressly prohibited. Exchange facilities for transactions included in Schedule II to the Rules may be permitted by the authorised dealers provided the applicant has secured the approval from the Ministry/Department of Government of India as specifed therein. In respect of transactions included in Schedule III, prior approval of the Reserve Bank would be required for remittance exceeding specifed values. The release of foreign exchange up to the threshold values specifed in Schedule III stands delegated to Authorised Dealers. All applications for release of exchange exceeding the limit as prescribed in Schedule III to the Rules should be referred to the Regional offce of the Foreign Exchange Department of the Reserve Bank, under whose jurisdiction the applicant is functioning/residing.

1.2 “Drawal” of foreign exchange includes use of International Credit Cards (ICC), includes International Debit Cards
(IDC), ATM cards, etc. “Currency”, inter alia, includes ICC, IDC, and ATM Cards. Accordingly, all Rules, Regulation
made and directions issued under the Act apply to the use of ICC, IDC, and ATM Cards.

1.3 In order to provide adequate foreign exchange facilities and effcient customer service, the Reserve Bank has decided
to grant licences to certain entities by authorizing them as Authorised Dealer- Category – II to undertake a range of
miscellaneous non-trade current account transactions. Accordingly, Authorised Dealer-Category – II are authorised to
release/ remit foreign exchange for the following non trade current account transactions:

a) Private visits,

b) Remittance by tour operators/ travel agents to overseas agents/ principals/hotels,

c) Business travel,

d) Fee for participation in global conferences and specialized training,

e) Remittance for participation in international events / competitions (towards training, sponsorship and prize money),

f) Film shooting,

g) Medical treatment abroad,

h) Disbursement of crew wages,

i) Overseas Education,

j) Remittance under educational tie up arrangements with universities abroad,

k) Remittance towards fees for examinations held in India and abroad and additional score sheets for GRE, TOEFL etc.

l) Employment and processing,assessment fees for overseas job applications,

m) Emigration and emigration Consultancy Fees,

n) Skills /credential assessment fees for intending migrants,

o) visa fees,

p) Processing fees for registration of documents as required by the Portuguese /other Governments, Registration/Subscription/ Membership fees to International Organisations.

1.4 Release of foreign exchange is not admissible for travel to and transaction with residents of Nepal and Bhutan. (cf. Clause (b) of rule 3 of the Rules.)

A.2 Sale of Exchange

2.1 Where approvals have been granted by the Reserve Bank /Government of India, foreign exchange may be sold
within the period of validity stated in the approval and the details of the sale should be endorsed on the reverse of
the original approval.

2.2 Authorised Dealers may release foreign exchange for travel puporse on the basis of a declaration given by the
traveler regarding the amount of foreign exchange availed of during the fnancial year.

2.3 In case of issue of travelers cheques, the traveler should sign the cheques in the presence of an authorised offcial and
the purchaser’s acknowledgement for receipt of the travelers cheques should be held on record.

2.4 Out of the overall foreign exchange being sold to a traveler, exchange in the form of foreign currency notes and coins may be sold upto the limit indicated below:

a) Travelers proceeding to countries other than Iraq, Libya, Islamic Republic of Iran, Russian Federation and other Republics of Commonwealth of Independent States not exceeding USD 2000 or its equivalent.

b) Travelers proceeding to Iraq or Libya, not exceeding USD 5000 or its equivalent.

c) Travelers proceeding to Islamic Republic of Iran, Russian Federation and other Republics of Commonwealth of Independent States, Full exchange may be released.

2.5 The form A2 relating to sale of foreign exchange should be retained for a period of one year by the authorised dealers,
together with the related documents, for the purpose of verifcation by their Internal Auditors. However, in respect of remittance applications for miscellaneous non-trade current account transactions of value not exceeding USD 5,000, Authorised Dealers may obtain simplifed Application cum Declaration Form (Form A2).

2.6 In cases where the remittances are allowed on the basis of self-declaration, the onus of furnishing the correct
details in the application will remain with the applicant who has certifed the details relating to the purpose of such remittance.

A.3 Medical Treatment

3.1 With a view to enable residents to avail of foreign exchange for medical treatment abroad without any hassles and any loss of time, Authorised Dealers may release foreign exchange upto an amount of USD 1,00,000 or its equivalent, on
the basis of self declaration that the applicant is buying exchange for medical treatment outside India, without insisting
on any estimate from a hospital/doctor.

3.2 For amount exceeding the above limit, estimate from the doctor in India or hospital/ doctor abroad, is required to
be submitted to the Authorised Dealers.

3.3 A person who has fallen sick after proceeding abroad may also be released foreign exchange by an Authorised
Dealer for medical treatment outside India.

A.4 Cultural Tours

Dance troupes, artistes, etc., who wish to undertake tours abroad for cultural purposes should apply to the Ministry of Human Resources Development (Department of Education and Culture), Government of India, for their foreign exchange requirements. Authorised Dealers may release foreign exchange, on the strength of the sanction from the concerned Ministry, to the extent and subject to conditions indicated therein.

A.5 Private Visits

Foreign exchange for private visit can also be released to a person who is availing of foreign exchange for travel outside India for any purpose upto the limits specifed in Schedule III to the Rules.

A.6 Business Visits

Foreign exchange for undertaking business travel or attending a conference or specialised training or for maintenance expenses of a patient going abroad for medical treatment or check up abroad or for accompanying as attendant to a patient going abroad for medical treatment / check up to the limits specifed in Specifed in Schedule III to the Rules.

A.7 Period of surrender of foreign exchange

In case foreign exchange purchased for a specifc purpose is not utilized for that purpose, it could be utilized for any other eligible purpose for which drawal of foreign exchange is permitted under the relevant Regulation.

General permission is available to any resident individual to surrender received / realized / unspent / unused foreign exchange to an authorised person within a period of 180 days from the date of receipt /realization /purchase /acquisition / date of return of the traveler, as the case may be.

The liberalized uniform limit of 180 days is applicable only to resident individuals and that too in areas other than export of goods and services.

In all other cases, the regulations /directions on surrender requirement shall remain unchanged. (cf Notifcation No. FEMA 9/ 2000-RB dated May 3rd 2000, as amended from time to time).

A.8 Unspent Foreign Exchange

8.1 As stated above, unspent foreign exchange brought back to India by a resident individual should be surrendered to an authorised person within 180 days from the date of return of the traveler. Exchange so brought back can be utilised by the individual for his /her subsequent visit abroad.

8.2 However, a returning traveler is also permitted to retain with him, foreign currency travelers cheques and currency
notes upto an aggregate amount of USD 2000 and foreign coins without any ceiling (cf Notifcation No. FEMA 9/2000-RB
dated May 3rd 2000). Foreign exchange so retained, can be utilised by the traveler for his subsequent visit abroad.

8.3 A person resident in India can open, hold and maintain with an Authorised Dealer in India, a Resident Foreign
Currency (Domestic) Account, out of foreign exchange acquired in the form of currency notes, bank notes and travelers
cheques from any of the sources like, payment for services rendered abroad, as honorarium, gift, services rendered
or in settlement of any lawful obligation from any person not resident in India.

8.4 The account may also be opened / credited with foreign exchange earned abroad, including proceeds of export of goods and /or services, royalty, honorarium, etc and /or gifts received from close relatives (as defned in the Companies Act) and repatriated to India through normal banking channels by resident individuals.

8.5 The eligible credits to the Resident Foreign Currency (Domestic) Account, out of foreign exchange acquired in the
form of currency notes, bank notes and travelers cheques, are as under:

a) acquired by him from an authorised person for travel abroad and represents the unspent amount thereof, or

b) acquired by him while on a visit to any place outside India, by way of payment for services not arising from any business in or anything done in India and by way of honorarium or gift, or

c) acquired by him from any person not resident in India, and who is on a visit to India, as honorarium, gift, for services rendered or in settlement of any lawful obligation.

Note: Where a person approaches an authorized person for surrender of unspent / unutilized foreign exchange after the prescribed period, Authorised Person should not refuse to purchase the foreign exchange merely on the ground that the prescribed period has expired.

A. 9 Remittances for Tour arrangements, etc.

9.1 Authorised Dealers may remit foreign exchange upto a reasonable limit, at the request of a traveler towards his hotel
accommodation, tour arrangement, etc. in the countries proposed to be visited by him, provided it is out of the foreign
exchange purchased by the traveler from an Authorised Person (including exchange drawn for private travel abroad) in accordance with the Rules, Regulations and Directions in force.

9.2 Authorised Dealers may effect remittances at the request of agents in India who have tie up arrangements with
hotels / agents, etc abroad for providing hotel accommodation or making other tour arrangement for travelers from
India, provided the Authorised Dealer is satisfed that the remittance is being made out of the foreign exchange
purchased by the concerned traveler from an authorised person (including exchange drawn for private travel
abroad) in accordance with the Rules, Regulations and Directions in force.

9.3 Authorised Dealer may open foreign currency accounts in the name of agents in India who have tie up arrangements with hotels/agents etc., abroad for providing hotel accommodation or making other tour arrangements for travelers from India provided:

a) The credits to the account are by way of depositing

i. Collections made in foreign exchange from travelers, and

ii. Refunds received from outside India on account of cancellation of bookings /tour arrangements etc., and

b) the debits in foreign exchange are for making payments towards hotel accommodation, tour arrangements, etc., outside India, in accordance with 9.2 above

9.4 Authorised Dealer may allow tour operators to remit the cost of rail/road/ water transportation charges outside
India without any prior approval from the Reserve Bank, net of commission / mark up due to the agent. The sale of
passes/ticket in India can be made either against the payment in Indian Rupees or in foreign exchange released for visits
abroad. The cost of passes/ tickets collected in Indian Rupees need not be adjusted in the travelers’ entitlement of
foreign exchange for private visit.

9.5 In respect of consolidated tours arranged by travel agents in India for foreign tourists visiting India and neighbouring
countries like Nepal, Bangladesh, Sri Lanka, etc. against advance payments/ reimbursement through an authorised
dealer, part of the foreign exchange received in India against such consolidated tour arrangement, may require to be remitted from India to these neighbouring countries for services rendered by travel agent and hoteliers in these countries. Authorised dealers may allow such remittances after verifying that the amount being remitted to the neighbouring countries (inclusive of remittances, if any, already made against the tour) does not exceed the amount actually remitted to India and the country of residence of the benefciary is not Pakistan.

A.10 Payment in Rupees

Authorised Dealers may accept payment in cash upto Rs.50,000 only against sale of foreign exchange for travel abroad (for private visit or for any other purpose). Wherever the sale of foreign exchange exceeds the amount equivalent to Rs.50,000 the payment must be received only by a

i. Crossed Cheque drawn on the applicant’s bank account, or

ii. Crossed Cheque drawn on the bank account of the frm/company sponsoring the visit of the applicant, or

iii. Banker’s Cheque/ Pay Order/ Demand Draft.

Note: Where the rupee equivalent of foreign exchange drawn exceeds Rs.50,000 either for any single drawal or more than one drawal reckoned together for a single journey/visit, it should be paid by cheque or draft.

A.11 Advance Remittance-Import of Services

Authorised Dealers may allow advance remittance for import of services. However, where the amount exceeds USD 1,00,000 or its equivalent, a guarantee from a bank of International repute situated outside India or a guarantee from an authorised dealer in India, if such a guarantee is issued against the counter- guarantee of a bank of International repute situated outside India, should be obtained from the overseas benefciary. The authorised dealer should also follow up to ensure that the benefciary of the advance remittance has fulflled his obligations under the contract or agreement with the remitter in India.

A.12 Issue of Guarantee-Import of Service

Authorised dealer may issue guarantee on behalf of their customers importing services, provided:

a) The guarantee amount does not exceed USD 100,000;

b) Authorised dealer is satisfed about the bonafdes of the transaction;

c) Authorised dealer ensures submission of documentary evidence for import of services in the normal course; and

d) The guarantee is to secure a direct contractual liability arising out of contract between a resident and a non­
resident.

In case of invocation of the guarantee, the Authorised Dealer is required to submit to the Chief General Manager - in-Charge, Foreign Exchange Department, Foreign Investments Division (EPD), Reserve Bank of India, Central offce, Mumbai-400001 a report on the circumstances leading to the invocation of the guarantee.

A.13. Liberalised Remittance Scheme of USD 2,00,000 for Resident Individuals

13.1 Under this scheme, Authorised Dealers may freely allow remittances by resident individuals upto USD 2,00,000 per fnancial year (April- March) for any permitted current or capital account transactions or a combination of both.

13.2 The limit of USD 2,00,000 under the Scheme would also include remittances towards gift and donation by a resident
individual.

13.3 Remittances under the scheme are allowed only in respect of permissible current or capital account transactions
or combination of both. All other transactions Which are otherwise not permissible under FEMA and those in
the nature of remittance for margins or margin calls to overseas exchanges/ overseas counterparty are not allowed
under the scheme.

13.4 Resident individuals are free to acquire and hold immovable property or shares (of listed companies or otherwise) or
debt instruments or any other assets outside India without prior approval of the Reserve Bank.

13.5 Individuals can also open, maintain and hold foreign currency accounts with a bank outside India for making
remittances under the scheme without prior approval of the Reserve Bank. The foreign currency accounts may be
used for putting through all transactions connected with or arising from remittances eligible under this scheme.

13.6 Banks should not extend any kind of credit facilities to resident individuals to facilitate remittances under the Scheme.

13.7 Liberalised Remittance Scheme is not available for remittance to countries identifed by Financial Action Task Force
(FATF) as non co-operative countries and territories as available on FATF website www.fatf-gaf.org or as notifed
by the Reserve Bank.

13.8 For undertaking transactions under the Scheme, resident individuals may use the Application-cum-Declaration Form.

Beginning from April 2008, AD Category-I banks are required to furnish the informaion on a monthly basis to the Chief General Manager -in-Charge, Foreign Exchane Department, (FID -EPD), Reserve Bank of India, Centeral Offce, 11th Floor, Central Offce Building, Mumbai -400 001, on or before ffth of the following month to which it relates. A soft copy of the statement (in Excel format) may also be sent by e-mail to fedcofd@rbi.org.in

A.14 Documentation

14.1 The Reserve Bank will not, generally, prescribe the documents, which should be verifed by the Authorised Dealers
while releasing foreign exchange. In this connection, attention of authorised dealers is drawn to sub-section (5) of
Section 10 of the FEMA, 1999 which provides that an authorised person shall require any person wanting to
transact in foreign exchange to make such a declaration and to give such information as will reasonably satisfy
him that the transaction will not involve and is not designed for the purpose of any contravention or evasion of the
provision of the FEMA or any rule, regulation, notifcation, direction or order issued thereunder.

14.2 Authorised dealers are also require to keep on record any information / documentation, on the basis of which
the transaction was undertaken, for verifcation by Reserve Bank. In case the applicant refuses to comply with any such
requirement or makes unsatisfactory compliance therewith, the authorised dealer shall refuse, in writing to undertake
the transaction and shall, if he has reasons to believe that any contravention /evasion is contemplated by the person, report the matter to Reserve Bank.

14.3 Authorised Dealers have specifcally been advised that they may release foreign exchange upto USD 1,00,000 each for employment, emigration, maintenance of close relatives, education and medical treatment abroad without insisting on any supporting documents but on the basis of self declaration incorporating certain basic details of the transactions and submission of Form A2.

In addition, the excisting facility of release of exchange by Authorised Persons upto USD 10.000 or its equivalent in one fnancial year for one or more private visits to any country (except Nepal and Bhutan) will continue to be available on a self - declaration basis.

A.15 Endorsement on Passport

It is not mandatory for authorised dealers to endorse the amount of foreign exchange sold for travel abroad on the passport of the traveler. However, if requested by the traveler, they may record under their stamp, and signature, details of foreign exchange sold for travel.

A.16 International Credit Cards

16.1 The restrictions contained in Rule 5 of the Foreign Exchange Management (Current Account Transactions) Rules,
2000 will not be applicable for use of International Credit Cards (ICCs) by residents for making payment towards
expenses, while on a visit outside India.

16.2 Residents can use ICCs on internet for any purpose for which exchange can be purchased from an authorised dealer in
India, e.g. for import of books, purchase of downloadable software or import of any other item permissible under Foreign Trade Policy (FTP).

16.3 ICCs cannot be used on internet or otherwise for purchase of prohibited items, like lottery tickets, banned or
prescribed magazines, participation in sweepstakes, payment for call-back services, etc. since no drawal of foreign
exchange is permitted for such items / activities.

16.4 There is no aggregate monetary ceiling separately prescribed for use of ICCs through internet.

16.5 Resident individuals maintaining foreign currency accounts with an authorised dealer in India or a bank abroad, as
permissible under Foreign Exchange Regulations, are free to obtain ICCs issued by overseas banks and other
reputed agencies. The charges incurred against the card either in India, or abroad, can be met out of funds held
in such foreign currency account/s of the card holder or through remittances, if any, from India only through a bank
where the card holder has current or saving account. The remittance for this purpose should also be made directly to
the card-issuing agency abroad and not to a third party.

16.6 The applicable limit will be the credit limit fxed by the card issuing banks. There is no monetary ceiling fxed by
the Reserve Bank for remittances, if any, under this facility.

A.17 International Debit Cards

17.1 Banks authorised to deal in foreign exchange are issuing International Debit Cards (IDCs) which can be used by a resident for drawing cash or making payment to establishment overseas during his visit abroad. It is clarifed that IDCs can be used only for permissible current account transactions and the item - wise limits as mentioned in the schedules to Rules as amended from time to time, are equally applicable to payments made through use of these cards.

17.2 The IDCs cannot be used on internet for purchase of prohibited items like lottery tickets, banned or prescribed magazines, participation in sweepstakes, payment for call-back services, etc i.e. for such items/ activities for which drawal of
foreign exchange is not permitted.

17.3 The International Banking Divisions/ Foreign Exchange Departments of AD banks may submit a statement as
on December 31, each year in case the aggregate forex utilization by the IDC holders exceeds USD 100,000 in
a calander year. The statement should reach the Chief General Manager - in - Charge, Foreign Exchange Department,
External Payments Divison, Central Offce, Mumbai-400 001 on or before 20th January of the succeeding year.

A.18 Store Value Cards/Charge Cards/ Smart Cards, etc.

Certain AD banks are also issuing Store Value Card /Charge Card/ Smart Card to residents traveling on private/ business visit abroad which are used for making payments at overseas merchant establishments and also for drawing cash from ATM terminals. No prior permission from Reserve Bank is required for issue of such cards. However, the use of such cards is limited to permissible current account transactions and subject to the prescribed limits under the Rules, as amended from time to time.

A.19 Acquisition of Foreign Securities Under Employees Stock Option Plan (ESOP)

Resident individuals who are either employees or director of an Indian offce or a branch of a foreign company in which foreign holding is not less than 51% are permitted to acquire foreign securities under ESOP Scheme without any monetary limit. They are also permitted to freely sell the shares provided the proceeds thereof are repatriated to India.

A.20 Income–Tax Clearance

Remittances to non-residents will be allowed to be made by the authorised dealers on production of an undertaking by the remitter and a Certifcate from Chartered Accountant in the formats prescribed by the Central Board of Direct Taxes, Ministry of Finance, Government of India in their circular No. 10/2002 dated October 9, 2002. [c.f. A. P. (DIR Series) circular No. 56 dated November 26, 2002].

ANNEXURE-I

FOREIGN EXCHANE MANAGEMENT (CURRENT ACCOUNT TRANSACTIONS) RULES, 2000

1. Short title and commencement

1). These rules may be called the Foreign Exchange Management (Current Account Transacions) Rules, 2000:

2). They Shall come into effect on the 1st day of June 2000.

2. Defnitions - In these rules, unless the context otherwise requires:

(a) “Act” means the Foreign Exchange Management Act, 1999 (42 of 1999);

(b) “Drawal” means drawal of foreign exhange from an authorised person and includes opening of Latter of Credit or use of
International Credit Card or International Debit Card or ATM Card or any other thing by whatever name called which has the effect of creating foreign exchange liability;

(c) “Schedule” means a schedule appended to these rules;

(d) The words and expressions not defned in these rules but defned in the Act shall have the same meanings respectively assigned to them in the Act.

3. Prohibition on Drawal of Foreign Exchange

Drawal of foreign exchange by any person for the following purpose is prohibited, namely;

a. a transaction specifed in the schedule I; or

b. a travel to Nepal and/or Bhutan; or

c. a transaction with a person resident in Nepal or Bhutan

Provided that the prohibition in clause (c) may be exempted by RBI subject to such terms and conditions as it may necessary to stipulate by special or general order.

4. Prior Approval of Govt. of India

No person shall draw foreign exchange for a transaction included in the Schedule II without prior approval of the Government of India;

Provided that this rule shall not apply where the payment is made out of funds held in Resident Foreign Currency (RFC) Account of the remitter.

5. Prior Approval of Reserve Bank

No person shall draw foreign exchange for a transaction included in the Schedule III without prior approval of Reserve Bank;

Provided this rule shall not apply where the payment is made out of funds held in Resident Foreign Currency (RFC) account of the remitter.

6. (1) Nothing contained in Rule 4 or Rule 5 shall apply to drawal made out of funds held in Exchange Earners’ Foreign Currency (EEFC) account of the remitter.

(2) Notwithstanding anything contained in sub- rule(1), restricitons imposed under rule 4 or rule 5 shall continue to apply where the drawal of foreign exchange from the Exchange Earners Foreign currencey (EEFC) Account is for the purpose specifed in items 10 and 11 of schedule II, or item 3, 4, 11, 16, 17 of schedule III as the case may be.

Use of International Credit Card while Outside India

Prior approval of Reserve Bank for a transaction included in Schedule III is not required for use of International Credit card for making payment by a person towards meeting expenses while such person is on a visit outside India.

SCHEDULE-I

TRANSACTION WHICH ARE PROHIBITED (SEE RULE - 3)

1. Remittance out of lottery winning.

2. Remittance of income from racing/ riding etc. or any other hobby.

3. Remittance for purchase of lottery tickets, banned/prescribed magazines, football pools, sweepstakes, etc.

4. Payment of commission on exports made towards equity investment in Joint Ventures/ Wholly owned Subsidiaries
abroad of Indian companies.

5. Remittance of dividend by any company to which the requirement of dividend balancing is applicable.

6. Payment of commission on exports under Rupee State Credit Route, except commission upto 10% of invoice value
of export of tea and tobacco.

7. Payment related to “Call Back Services” of telephones.

8. Remittance of interest income on funds held in Non-Resident Special Rupee (Account) Scheme.

SCHEDULE-II

TRANSACTION WHICH REQUIRE PRIOR APPROVAL OF

THE CENTRAL GOVERNMENT

(SEE RULE - 4)

SCHEDULE-III

TRANSACTION WHICH REQUIRE PRIOR APPROVAL
OF RESERVE BANK

(SEE RULE - 5)

1. Omitted.

2. Release of exchange exceeding USD 10,000 or its equivalent in one calendar year, for one or more private visits to any
country (except Nepal and Bhutan).

3. Gift remittance exceeding USD 5,000 per remitter/donor per annum.

4. Donation exceeding USD 5,000 per remitter/donor per annum.

5. Exchange facilities exceeding USD 100,000 for persons going abroad for employment.

6. Exchange facilities for emigration exceeding USD 100,000 or amount prescribed by country of emigration.

7. Remittance for maintenance of close relatives abroad,

i. Exceeding net salary (after deduction of taxes, contribution to provident fund and other deductions) of a person who is resident but not permanently resident in India and-

           (a) is a citizen of a foreign State otherthan Pakistan; or

(b) is a citizen of India, who is on deputation to the offce or branch or subsidiary or joint venture in India of such foreign company.

ii. Exceeding USD 100,000 per year, per recipient, in all other cases.

Explanation : For the purpose of this item, a person resident in India on account of his employment or deputation of a specifed duration (irrespective of length thereof) or for a specifc job or assignment; the duration of which does not exceed three years, is a resident but not permanently resident.

8. Release of foreign exchange, exceeding USD 25,000 to a person, irrespective of period of stay, for business travel or attending a conference or specialised training or for maintenance expenses of a patient going abroad for medical treatment
or check-up abroad, or for accompanying as attendant to a patient going abroad for medical treatment/ check-up.

9. Release of exchange for meeting expenses for medical treatment abroad exceeding the estimate from the doctor in India or
hospital/doctor abroad.

10. Release of exchange for studies abroad exceeding the estimate from the institution abroad or USD 100,000 per academic year, whichever is higher.

11. Commission, per transaction, to agents abroad for sale of residential fats or commercial plots in India exceeding USD
25,000 or 5% of the inward remittance whichever is more.

12. Omitted

13. Omitted

14. Omitted

15. Remittance exceeding USD 1,000,000 per project, for any consultancy service procured from outside India.

16. Omitted

17. Remittance exceeding USD 100,000 by an entity in India by way of reimbursement of pre-incorporation expenses.