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+--- Thread: Prohibition on Withdrawal of Foreign Exchange (/showthread.php?tid=4192)
Prohibition on Withdrawal of Foreign Exchange - enterslice - 10-23-2021
Withdrawal of foreign exchanges for the following purposes is banned:
· Remittances as a result of winning the lottery.
· Remittance from racing/riding earnings, etc.
· Remittance for the purchase of lottery tickets, football pools, sweepstakes, and so on.
· Payment of export commissions to Indian corporations for equity participation in joint ventures/wholly owned subsidiaries abroad.
· Payment of export commissions under Rupees State Credit Routes, with the exception of commissions of up to 10% of the invoice value of tea and tobacco exports.
· Reimbursement for telephone call-back services.
· Visit Nepal and/or Bhutan.
· Remittance of interest income earned on monies in the NRSR Account.
· Transaction with a Nepalese or Bhutanese resident.
Click here to know more - Foreign Exchange Regulation