VADILAL is RBI AUTHORISED DEALER Money Changing (AD-II)
- Buy and Sell all traded currencies and Travellers Cheques and Travellers Cards.
- Remittances for all Current and Capital [restricted] accounts transactions are attended.
RBI authorized AD-II category transactions for Release/ Remittance of Foreign Exchange:
- Business Travels – USDlr.25,000 or its equivalent per trip.
- Private Visit –USDlr.10,000 or its equivalent per financial year.
- Employment abroad – USDlr.100,000 or its equivalent.
- Emigration – USDlr.100,000 or its equivalent, or amount as prescribed by the country of emigration.
- Meeting with Medical expenses – as per the estimate from the Doctor in India, or Hospital/Doctor abroad.
- Exchange for participation in International events – competitions [including training, sponsorship].
- Film shooting.
- Release of exchange towards fees for examinations in India and or Abroad and additional score sheets for GRE, TOFEL, etc.
- Visa fees.
- Registration / Subscription / Membership fees to International organizations.
- Remittance for Family Maintenance.
- Remittance under Liberalized Remittance Scheme.
- Payments for release of exchange:
1.Cash payment acceptable only upto an amount of Rs.50,000.
2. One single payment either by cash [see ceiling above] or personal cheque, bankers payment either by cash [see ceiling
above] or personal cheque; bankers pay order / draft / cheque; drawn from travellers account.
3. Business trip- payment should be from the company's account on whose behalf business trip is arranged.
Payments for encashment of Foreign currency / Tcs;
1.As per RBI guidelines in force
Documents Required: 1. Private visit- request letter, ticket for travel.
2. Business visit- request letter from the company duly signed by person other than the traveler, ticket for travel.
3.Pass-Port [Endorsement of pass-port is mandatory].
4. Other proof in relation to employment / emigration / medical purpose visit / etc., etc.
Release / surrender of unspent foreign exchange:
- Maximum ceiling for release of currency notes is USDlr.3,000 or its equivalent.
- In case of visits to Iran,CIS countries, full exchange is released in foreign currency.
- FEMA regulations allows any Indian individual to retain USDlr.2,000 or its equivalent either in form of CN/TC. There is no
ceiling on holding coins.
- Unspent amount is allowed to be credited to the accounts like RFC,EEFC of the traveler's in their name only.
- Total amount of foreign exchange allowed to be brought in India is USDlr. 10,000 or its equivalent without CDF which includes
maximum limit in case of currency notes up to USDlr. 5,000 or its equivalent. [CDF = Currency Declaration Form] Traveller
entering India with above ceiling should obtain CDF from Customs.
- A traveler leaving India can carry Indian currency notes upto value INR 5,000 only.Like-wise also permitted to bring back
Indian currency notes upto value INR 5,000 only.