Inbound Money Transfer to India operates within the purview of guidelines of RBI & within the following framework :
Individuals ( Customers or otherwise )
Visiting Foreign Tourists
Foreign students who are studying in India
Restricted to Inbound Money Transfer service in the name of Individuals and personal use only.
Maximum permissible limit per transaction : USD 2500/- per beneficiary.
12 Transactions per beneficiary are permitted in a calendar year.
Maximum cash payment restricted to Rs.50,000/-. Remittance above Rs.50,000/- shall be paid through Pay Order/Draft or through credit to Beneficiaries Domestic Savings Account.
Foreign Nationals/Visitors shall be paid the entire amount (Max. eq. of USD 2500) in cash.
Payments are made in Indian Rupee only & can be collected by the intended receiver from any of the Designated Branches of our Bank.
Repatriation benefits are not available.
Receiver (Beneficiary) pays no fee.
Neither the sender nor the receiver has to have a Bank Account.