In India, as per the prevailing law, a minor is considered as someone who has not attained the age of 18. Under the Liberalized Remittance Scheme, all citizens of the country, including minors, are permitted to make forex transactions and remit money up to USD 2, 50,000 without any restrictions per financial year for the...
A major share of Indian population is living outside the country. Most of them usually keep a non-resident external (NRE) or a non-resident ordinary (NRO) accounts in India. Here, a comprehensive elucidation of such accounts and NRE repatriation is explained in detail. Scroll down to read more… NRE Repatriation Funds in NRE accounts are most...
Many Indians are migrating to the USA for doing higher studies or for acquiring a certain profession. The United States of America (USA) is another country that lures many for no lesser reason. The USA houses some of the largest bunch of international students in the world. Indian students mainly want to study in the...
When you plan on traveling to a foreign destination, the foreign exchange rate is the first thing to be considered. How much money can you carry to a foreign country? What are the modes available and which mode is best for me? Big-time questions often debated and hovering all-around your mind. Never carry forex in...
In this modern era, most of us are familiar with international money transfer and may come across several occasions that demand the money transfer to different geographical locations. Read further to be edified with more information about each and every step involved in the process of international money transfer. Let’s start with the basic information...
When a person tends to make domestic money transfer in India, he or she might come across three terms- NEFT, IMPS and RTGS. Well, what are these acronyms? What is their role in domestic money transfer? These three are the online money transfer services provided by Indian banks, each has different types of settlements, timings,...
