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of <h1>RBI Clarifies Rules for International Debit Card Use Abroad; Restrictions on Prohibited Purchases and Reporting Requirements.</h1> The Reserve Bank of India clarifies the use of International Debit Cards (IDCs) and other payment cards by resident Indians traveling abroad. IDCs can be used for permissible current account transactions within specified limits but not for prohibited online purchases like lottery tickets or banned magazines. Authorized banks must follow documentation procedures and report if IDC usage exceeds USD 100,000 annually. Store Value Cards, Charge Cards, and Smart Cards can be issued without prior RBI permission, subject to current account transaction limits. Banks are instructed to inform customers of these guidelines, issued under the Foreign Exchange Management Act.
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