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APPLICATION for FOREIGN OUTWARD REMITTANCE Dear Si Form

APPLICATION for FOREIGN OUTWARD REMITTANCE Dear Si Form

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if you are in India and receiving money from abroad or sending money abroad you cannot miss these points from RBI in India RBI is responsible for governing Inward and outward remittances ing to the Foreign Exchange Management Act of RBI here are a few guidelines you need to adhere to when it comes to inward evidences that is for receiving money from abroad the RBI provides rupee drawing Arrangement RDA and the money transfer service scheme mtss as alternative ways to send money back to India from abroad the amount of inward remittance using RDA channel is not capped although there is a ceiling for commercial payments under the mtss arrangement a single receiver may receive 30 transfers annually at a 2500 US dollars per transfer cap payments under RDA and mtss must be made through authorized dealer banks in India and the procedure is strictly governed by RBI a remedy who receives International payments from abroad needs to procure an firc certificate to authorize the money received for

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