A single receiver cannot receive more than 30 transactions in a calendar year i.e. January to December
Payment in cash to the receiver can be paid maximum up to Rs. 50,000/- only
Amount exceeding Rs. 50,000/- will be paid by way of DD or credit to the account of the receiver.
However, amount above Rs. 50,000/ can be paid to a foreign national
Payment will not be made to a person other than the beneficiary himself. No authority letter or power of attorney or any other means to be considered for payment to third party. The beneficiary must visit personally.
To receive payment the receiver must provide the proof of his identity along with MTCN.
Only personal remittances to individuals such as remittance towards family maintenance and remittances favoring foreign tourists visiting India are permitted.
For more information please contact our forex department: