Forex


Forex

If you are travelling overseas, you can avail our forex products 6 services which will give you a right mix of ease of use and safety. We also offer a convenient and secure way to transfer your money overseas to your friends and family through our online remittance services. So sit back and relax, because now you can buy Forex or send money instantly.

Retail Outward Remittance:

Wire Transfer

  •  USD, GBP, EUR, AUD, CAD, AED, JPY, CHF, SGD, HKD, SAR, DKK, NOK, OAR, NZD, SEK
  •  Foreign Currency DD
  •  USD,GBP, EUR,AUD,CADandSGD

Branch Network:

  • Products can be availed through more than 3000 plus category B branches
  • Online touch points
  • Remittances(wire transfer) can be initiated through RIB
  • Travel Card can be availed, loaded, refunded through RIB and iMobile

Distribution Support:

  • Dedicated support team on ground
  • 7 Forex Regional Heads
  • 38 Forex Regional Head Sales
  • 295 Forex Relationship Managers

Branch Network:

  • Products can be availed through more than 3000 plus category B branches
  • Online touch points
  • Remittances(wire transfer) can be initiated through RIB
  • Travel Card can be availed, loaded, refunded through RIB and iMobile

Limits and Regulations:

Liberalized Remittance Scheme(LRS):  Under this scheme resident Indians are permitted to remit upto USD 2,50,000 per financial year for all current and capital account transactions. Eg.:

  • Current account transactions include purposes such as education, employment, emigration, maintenance of close relatives, medical treatment etc
  • Capital account transactions include purposes such as gift, donation, investment in foreign securities, acquisition of property, opening of foreign currency account etc.

Common purposes for which customers require Forex are:

  • Personal Travel, Education, Maintenance, Gift , Donation, Medical treatment, investment etc
  • Transactions availed by customers for above mentioned purposes irrespective of mode of product fall under the purview of LRS.

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