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of <h1>RBI Eases Forex Rules: Residents Can Access Up to $50K for Overseas Medical Treatment Without Hospital Estimate.</h1> The Reserve Bank of India has amended regulations to simplify the process for residents seeking foreign exchange for medical treatment abroad. Authorized dealers can now release up to USD 50,000 or its equivalent without requiring an estimate from a hospital or doctor. Applicants must provide a declaration stating the purpose of the funds and ensure payment is made via cheque, account debit, or demand draft. This change aims to reduce delays and streamline access to necessary funds. The directive is issued under the Foreign Exchange Management Act, 1999.
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