Outward Remittance - International Fund Transfer

Overview

Send money abroad for reasons more than one: Education, Medical treatment, Gifts to loved ones, Maintenance for your close Relative or donate for a cause upto a limit of USD 250,000 per financial year.

Our extensive network gives you the reach to all parts of the world.

You can send money abroad by visit any IndusInd Bank Forex Enabled branch or transfer online by visiting indusforex.indusind.com

• Basic Travel Quota (BTQ)
• Business Travel
• Education
• Employment
• Immigration
• Medical
• Visas fees
• Purchase of Property Overseas
• Opening of overseas account
• Investment in Shares / MF overseas
• Any other valid purpose covered under RBI LRS Scheme

• United States Dollars (USD)
• Great Britain Pounds (GBP)
• Euro (EUR)
• Australian Dollars (AUD)
• Canadian dollars (CAD)
• New Zealand Dollars (NZD)
• Arab Emirates Dirham (AED)
• Swiss Franc (CHF)
• Danish Krone (DKK)
• Hong Kong Dollar (HKD)
• Japanese Yen (JPY)
• Norwegian Krone (NOK)
• Saudi Riyals (SAR)
• Swedish Krone (SEK)
• Singapore Dollars (SGD)
• South African Rand (ZAR)

Limit of USD 2,50,000* or it’s equivalent per financial year is applicable for the below mentioned purposes of travel:

• Private Visit (Leisure Travel)
• Employment
• Accompanying patient abroad
• Business Travel from Individual/ Proprietorship account
• Education
• Emigration
• Medical Treatment/ Person who has fallen sick after going abroad

*The overall limit available to a Resident individual, under Liberalised Remittance Scheme is USD 2,50,000 per financial year and deviation of these limits will be as per Schedule III – FEMA updated from time to time.

LRS transactions ( Both Current and Capital Account Trx ) pertaining to travel, business, medical, education, immigration,Investments etc have been subsumed under the LRS limit (within the overall limit of USD 2,50,000 per financial year), i.e the combined limit available to a Resident Individual under his/her PAN will be USD 2,50,000 per financial year & equivalent in other currencies for the various purposes and products offered by the bank under LRS.

Additionally With Reference to the revised RBI Notification dated 10th July 2024

An Individual is also allowed to send remittances under LRS to entities holding accounts in GIFT City under IFSC.
3. On a review by RBI , it has been decided that Authorised Persons ( Scheduled Banks/AD IIs etc ) may facilitate remittances for all permissible purposes under LRS to IFSCs for:

• Availing financial services or financial products as per the International Financial Services Centres Authority Act, 2019 within IFSCs; and
• All current or capital account transactions, in any other foreign jurisdiction (other than IFSCs) through an FCA held in IFSCs.

For these permissible purposes, resident individuals can open Foreign Currency Account (FCA) in IFSCs.
Subject to

• The Bene is a bonafied account holder in Gift City
• The Due Diligence of the Remitter & Bene complies to the extent of the LRS Guidelines

Remittance exceeding USD 2,50,000 should be as per Schedule III – FEMA or as per RBI guidelines updated from time to time.