- With effect from 30th June 2010, AD’s can release foreign exchange to the resident Indians as per rules under section 5 of FEMA
- Foreign exchange so released should be used within 180 days of its purchase & also to be surrendered within 180 days if not used.
- The form of foreign currency issued should be in the form of coins & currency notes up to US$ 3000.
- The balance should be in the form of Traveler’s cheques & Demand Draft only.
- The foreign exchange can be purchased in cash up to Rs. 50000/- & for above Rs. 50,000/- by cheque & Demand Draft, Credit Card only.
- Also, use of International credit card can be made for making personal payment.