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Forex Branch

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Frequently Asked Questions

The limit for international money transfers set by the Reserve Bank of India under Liberalized Remittance Scheme (LRS) is USD 2,50,000 in one financial year.

Muthoot FinCorp ONE gives you the option to apply for your multi-currency Forex card online and get it delivered at home. You can also send money abroad (remittance) and reload your existing Muthoot FinCorp ONE Forex card, both online and offline.
However, in case you wish to collect cash or sell foreign currency, you will have to visit your nearest Muthoot FinCorp Forex branch.

RBI allows the following purposes for which you can purchase Forex for non-trade accounts
(a) Private visits
(b) Remittance by tour operators / travel agents to overseas agents /overseas principals (international entity approved by financial regulatory authority of that country for carrying on money transfer activities)/hotels
(c) Business travels
(d) Fees for participation in global conferences and specialized trainings,
(e) Remittance for participation in international events/competitions (towards training, sponsorship and prize money),
(f) Film shoots
(g) Medical treatment abroad
(h) Disbursement of crew wages
(i) Overseas education
(j) Remittance under educational tie up arrangements with universities abroad
(k) Remittance towards fees for examinations held in India and abroad, along with additional scoresheets for GRE, TOEFL, etc.
(l) Employment and processing, assessment fees for overseas job applications,
(m) Emigration and emigration consultancy fees,
(n) Skills/credential assessment fees for intending migrants
(o) Visa fees
(p) Processing fees for registration of documents as required by the Portuguese and other Governments
(q) Registration /subscriptions / membership fees to International Organisations.