Salient Features

..

Inbound Money Transfer to India operates within the purview of guidelines of RBI & within the following framework :

  • Beneficiary can be:

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.
  • There are more than 400 designated branches to undertake the transactions.
  • 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.