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Introducing the “In Favour Of” filter in Case Laws.
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of <h1>RBI Raises Foreign Exchange Remittance Limit for Miscellaneous Purposes to $5000 Under FEMA Sections 10(4) and 11(1.</h1> The Reserve Bank of India has increased the limit for foreign exchange remittance for miscellaneous purposes from USD 500 to USD 5000. Authorized Dealers are instructed to process these remittances based on a simple letter from the applicant containing basic information, without requiring additional documentation like Form A-2, provided the transaction is a current account transaction not included in the specified government schedules. The payment must be made by cheque or demand draft. This directive, aimed at further liberalizing foreign exchange availability, is issued under Sections 10(4) and 11(1) of the Foreign Exchange Management Act, 1999.
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