Use of foreign exchange for corporate donations to fund overseas academic chairs requires Reserve Bank approval and specified documentation. Indian corporates with established track records may contribute funds from their foreign exchange earnings to set up chairs in educational institutions outside India, subject to Reserve Bank of India approval on a case-by-case basis. Authorised dealers must forward applications to the Chief General Manager, Exchange Control Department, including details of foreign exchange earnings for the last three years, a brief company background, particulars of the proposed chair, and likely benefits to the corporate.