What is Limits allowed for Current Account Transactions – (CS Executive – FEMA)
Maximum Limits allowed for the following current account transaction, above which, prior approval from RBI is required (for individuals) is USD 2,50,000 only, as per the Foreign Exchange Management (Current Account Transaction) Amendment Rules :-
- Private visits to any country (except Nepal and Bhutan).
- Gift or donation.
- Going abroad for employment.
- Maintenance of close relatives abroad.
- Travel for business , or attending a conference or specialised training or for meeting expenses for meeting medical expenses, or check-up abroad, or for accompanying as attendant to a patient going abroad for medical treatment/check-up.
- Expenses in connection with medical treatment abroad.
- Studies abroad.
- Any other current account transaction
(CS Executive – FEMA)