FOREIGN EXCHANGE SERVICES

Foreign currency demand drafts: Customers can send the FCY DD to the beneficiary who will receive the funds upon crediting the draft amount into his/her account abroad. Customers can now avail FCY DD facility to make payments for various purposes like: University fees abroad Application fees Living expenses Gift remittances Maintenance of close relatives abroad Medical treatment abroad And all other permitted purposes as per the RBI guidelines. FCY Demand Drafts are issued in currencies such as United States Dollars (USD), Great Britain Pounds (GBP), EURO, Japanese Yen (JPY), Australian Dollars (AUD), Canadian dollars (CAD), New Zealand Dollars (NZD), Hong Kong Dollars (HKD), Swiss Francs (CHF) and Singapore Dollars (SGD).

Wire transfers: Customer can send money overseas to their relatives or friends in major currencies through SWIFT transfer facility in place of FCY DD. It is one of the safest and most convenient ways to send money abroad.

KYC/SCREENING REQUIREMENTS FOR ALL TYPES OF DEALS AND CUSTOMERS CRITICAL POINTS TO NOTE No deals to be done where countries categorized as Ultra High Risk Countries (UHRC) are involved. IVBLs High Risk Country Policy prohibits transactions with Cuba, Iran, Myanmar, North Korea, Sudan and Syria. All customers to be screened on compliance enquirer and necessary KYC documentation to be obtained. Screenshots to be maintained along with documentation. Photocopies of all original documents to be stamped Originals Seen and Verified and initialed by Transcorps authorised staff.

FOREIGN EXCHANGE PURCHASE WALK IN CLIENTS ELIGIBILTY Any Indian Resident Foreign Nationals/Tourists Non Resident Indian

Guidelines for retail foreign exchange encashment 1. For encashment of foreign currency notes and/or Travelers Cheques up to USD 500 or its equivalent, production of passport need not be insisted upon and any other suitable document of identification like ration card, driving license etc. can also be accepted. 2. For verification of the identity of customer for encashment in excess of USD 500 or its equivalent, a photo identity document such as passport, driving license, PAN Card, voter identity card issued by the Election Commission, etc. should be obtained.

3. Requests for payment of sale proceeds in cash may be acceded to the extent of USD 1000 or its equivalent per transaction. Requests for payment in cash by foreign visitors / Non-Resident Indians may be acceded to the extent of US $ 3000 or its equivalent. All encashment within one calendar month may be treated as single transaction for the purpose. In all other cases the payment should be made by way of "Account Payee" cheques / demand draft only. 4. Where the amount of forex tendered for encashment by a non-resident or a person returning from abroad exceeds the prescribed limit of USD 10000 (Both Currency and TCs together) or cash currency beyond USD 5000 equivalent production of insisted. In case of foreign exchange purchases the following precautions should be taken: Foreign currency bank notes and / or TCs beyond USD 10000 should not be accepted unless accompanied by currency declaration form that is duly stamped by customs at the airport. Coins will not be accepted. Currency Declaration Forms should be endorsed and returned back to client, if the balance amount in the CDF is nil then the CDF should be retained. It should be ensured that TCs are purchased on the basis of Watch & Compare i.e. the customer must sign TCs in the presence of Bank Officer. The original and counter signatures should invariably match with each other as also with passport and purchase agreement form. TC encashment requires signatures duly checked with original counter signatures on TCs plus those on the passport. In cases of doubt or while encashing large amounts counter teller must ask for purchase agreement form. Authorization should be taken from the issuer of TCs. This Facility is available with AMEX, In case of Master & Visa since VISA / MASTER that no longer issue TCs, more care is required and where ever in doubt, TCs encashment should be taken on collection basis. Check for the authenticity that bank notes are not counterfeit, mutilated or de-monetized Lodge the transaction in the system and handover the Encashment Certificate (Bordeaux) to the client. In case of NRIs the encashment certificate to be super scribed Not to be deposited in NRE a/c. Encashment certificate to be issued in all cases, whether asked for or not. Passport number, nationality, reason for encashment, to be noted on Encashment Certificate. The Encashment Certificate to contain a declaration to be signed by the client that he/she is surrendering the unutilized portion of foreign exchange is with in period of sixty day from the date of its purchase. The signatures of the beneficiary to be taken on encashment certificate & in case of NRIs /foreign nationals, the local address also to be noted on the encashment certificate. Currency Declaration Form (CDF) CDF should invariably be

KYC FOR ENCASHMENT Identification Documents for Purchase of Foreign Currency Notes & Travelers Cheques Encashment Amount for FCN/TC's Identification Documents Up to US $ 500 or equivalent Production of passport need not be insisted upon and any other suitable document of identification like ration card, driving license etc. can also be accepted. Excess of US $ 500 or equivalent Photo identity document such as passport, driving license, PAN Card, voter identity card issued by the Election Commission, etc. should be obtained.

Documents for Identification of Customers Amount Identification Documents Required Less than US $200 or equivalent Photocopies of the Identification document need not be kept on record. However, full details of the identification document should be maintained in a separate register / system. Between US $200 to US $ 2000 or equivalent Photocopies of the identification document should be maintained for one year and completion of statutory audit. Above US $ 2000 or equivalent Photocopies of the identification document should be maintained for a minimum period of five years.

Limits for Encashment of Foreign Currency Notes/ Travelers Cheques Sale Proceeds Payment To Indian Resident Cash may be acceded to the extent of USD 1000 or its equivalent per transaction. Amounts higher than Rs. 50000 should be paid by credit to clients account/ issuance of a DD/BC. All encashment within one month may be treated as single transaction for the purpose. In all other cases the payment should be made by way of "Account Payee" cheque, demand draft or credit to the clients account maintained with our bank. Foreign Visitors/ NRI's Cash may be acceded to the extent of US $ 3000 or its equivalent. Payments for Any amount higher than that should be made by DD/BC or credit to the clients account. All encashment within one month may be treated as single transaction for the purpose . In all other cases the payment should be made by way of "Account Payee" cheque, demand draft or credit to the clients account maintained with our bank. Where the amount of forex tendered for encashment by a non-resident or a person returning from abroad exceeds the limits prescribed for Currency Declaration Form (CDF), production of CDF should invariably be insisted.

Cash Proceeds / Cheque Payments

RATE APPLICABLE 1. Rates to be applied shall be as per the card rates, Fine rates will be offered as approval grid. 2. PAYMENT MODE For Indian National Up to Rs. 50000 in cash, in case of the amount is higher than the entire amount by way of bankers Cheques/ DD/ Credit to his account maintained with us/RTGS to other bank accounts For foreign nationals / NRIs - INR cash can be paid for encashment up to USD 3000, any amount higher than that should be paid by way of bankers Cheques/ DD. FOREIGN EXCHANGE SALES 1. PERSONAL / LEISURE VISIT Product: Bank Notes, Travelers cheques and Forex Travel Card Eligibility Resident Indian Nationals. Foreign Nationals permanently residing in India are also eligible to avail this quota provided the applicant is not availing of facilities for remittance of his/her salary, savings etc. abroad in terms of the existing FEMA regulations. Foreign born wife of an Indian national. Children endorsed on parents passport are also eligible for full entitlement. Quantum of exchange Up to a total of US$ 10,000 or its equivalent per resident individual in a financial year of which maximum of US$ 3,000 in Currency notes per visit and rest in Travelers cheques / Travel card for all the countries except for travel to Iraq, Libya, Islamic Republic of Iran, Russian Federation and other Republics of Commonwealth of Independent States. Individuals traveling to countries like Nepal & Bhutan are not eligible to withdraw foreign exchange under this scheme. For Travelers proceeding to Iraq or Libya, foreign exchange in the form of currency notes may be sold up to limit not exceeding US$ 5,000 or its equivalent per resident individual in a financial year. For Travelers proceeding to the, Russian Federation and other Republics of Commonwealth of Independent States, entire foreign exchange can be released in the form of currency notes. Travelers proceeding to Pakistan, Bangladesh by land route are eligible up to limit of US$ 10,000 of foreign exchange or its equivalent per resident individual in a financial year. Foreign exchange quota for personal visit can be availed over and above the specified amount under all other schemes for release of foreign exchange. Documentation to be obtained by branch ( Basic Travel Quota): At a glance: Valid Passport Air tickets Visa Copy (If visa on arrival, Visa copy not to be insisted upon)

 Application cum FEMA Declaration form A 2 form (If the transaction is more than USD 5000 or its equivalent) Foreign exchange quota for personal visit can be availed over and above the specified amount under all other schemes for release of foreign exchange. Form A2 cum FEMA Declaration form for release of exchange under personal visit scheme. Original passport for pages showing name, address, valid visa & passport number and validity to be verified by the CCM and details to be noted on the request form. Confirmed ticket-showing travel within 60 days of taking foreign exchange to be verified by the CCM and details of the ticket number to be noted on the request form by CCM. Request form should have the undertaking from the CCM that all originals including the passport, ticket and photocopies to be kept for office records. Photocopy of the crossed account payee Cheque/draft or pay order along with debit advice to be kept for records. If the applicant is a foreign national permanently residing in India, he/she should give an undertaking on the application itself that he/she is a permanent resident in India and is not availing of facilities for remittance of his/her salary, saving etc. abroad in terms of existing FEMA Regulations. Request form should have the undertaking from the branch that all originals including the passport and ticket has been duly verified. Photocopies need to be kept at the branch.

Exceptions Visa need not be insisted upon in cases where travel is to a country offering visa on arrival; however, undertaking for the same needs to be obtained. For Airline staff, open ticket may be accepted with proof of Airline staff to be kept for records. Ticket may not be insisted upon in cases where the same is not confirmed or delivered to the staff; however, an undertaking for the same to be obtained. All the above documents to be kept on record along with Copy of sale (Cash Memo) at the branch Receipt of payments all payments should first be received in advance by means of crossed applicants account payee cheque or draft or NEFT/RTGS transfer from the applicants bank a/c or by direct debit to the applicants bank account. In case of release of foreign exchange against acceptance of drafts/pay orders, approval from the competent authority as per draft acceptance guidelines should be held on records. In case of cheques acceptance, no exchange to be released before cheque realization. Payments for release of foreign exchange up to Rs.50, 000 or its equivalent can be received in cash. When foreign exchange is drawn on more than one occasion within one month for a single journey/visit, it should be treated as single transaction. If cash is to be accepted, the aggregate of rupee equivalent of foreign exchange drawn on different occasions for the single journey/visit should not exceed Rs, 50,000. Wherever the rupee equivalent exceeds Rs.50,000, the entire payment is to be accepted only by any of the following: a. Crossed cheque drawn on applications bank account. b. Crossed cheque drawn on the bank account of the firm/company sponsoring the visit of the applicant. c. Bankers cheque/Pay order/Demand Draft. d. RTGS/NEFT transfer from applicants bank a/c Endorsement on passport

Clients Passport endorsement for the amount of Forex being sold is not mandatory unless requested by client. Things to remember: Form A2 cum Declaration should be fully completed along with clients signature. The FX DD signatory will be the same as INR DD signatory. In case of TCs, it is mandatory to ensure customer signs on the TC at the time of issuance and Purchase agreement form is mandatory. 2. BUSINESS VISIT Product: Bank Notes, Travelers cheques, Forex Travel Cards. Eligibility International business travel sponsored by firms/companies/organization in India. Participation in International conferences / seminars which are of a scientific, technical or educational nature. Specialized training/study tour sponsored by institutions or undertaken by professionals like Doctors. Documentation: At a glance: Letter from the sponsoring Company with seal and signature, as per format attached (LERMS) A 2 form (If the transaction more than USD 5000 or its equivalent) Request cum FEMA Declaration form for release of foreign exchange under business visit scheme on companys letterhead, duly signed by authorized official of the company. A2 Form (if the transaction is more than USD 5000) In case of Travel for a conference / seminars, the brochure giving full particulars of the Conference/ seminar shall also be submitted along with the application. In case of Travel related to Training /Study tours, the details of training / study tour along with a letter from the overseas institutions agreeing to provide necessary facilities for the training / study tour and certifying the expenses to be borne by the organization. All the above documents to be kept on record along with Copy of sale (Cash Memo).

Quantum of Exchange Up to US$ 25,000 per business trip, irrespective of period of stay and number of times in a financial year. Release of foreign exchange beyond US$ 25,000 for a single business visit requires prior approval of RBI. Foreign Exchange may also be released to foreign nationals if the visit is sponsored by the company/ firm/organization in India where they are employed on regular basis. If a passenger plans to club both Conference and business visit together, the entitlement remains only up to a maximum of US$ 25,000. Personal Visit entitlement can be availed over and above the specified amount under this scheme. Receipt of Payments Payments against sale of foreign exchange up to Rs.50,000/- can be received in cash. When foreign exchange is drawn on more than one occasion for a single journey/visit, the aggregate of rupee equivalent of foreign exchange drawn on different occasions for the single journey/visit should not exceed Rs.50, 000/- if cash is to be accepted. Wherever the rupee equivalent exceeds Rs 50,000, the entire payment is to be accepted in advance and should be drawn from the bank a/c of the corporate/organization. Payments could be accepted by way of

a. Crossed cheque drawn on applications bank account. b. Crossed cheque drawn on the bank account of the firm/company sponsoring the visit of the applicant. c. Bankers cheque/Pay order/Demand Draft. d. RTGS/NEFT transfer from applicants bank a/c In case of release of foreign exchange against acceptance of corporate cheques, approval from the competent authority as per cheque acceptance guidelines should be held on records. For sale of foreign exchange on credit, approved credit limit for the corporate/organization should be in place. In case of cheques acceptance, no exchange to be released before cheque realization.

Endorsement on passport Clients Passport endorsement for the amount of Forex being sold is not mandatory unless requested by client. Things to remember: Form A2 should be fully completed along with clients signature. Request cum FEMA undertaking should be fully completed along with clients signature & stamp. 3. IMMIGRATION Product: Bank Notes, Traveler Cheques, Forex Travel Cards, Telegraphic Transfer and Demand Draft Eligibility Resident Indian proceeding for permanent immigration abroad. Documentation At a glance Immigration Travel: Valid Passport Visa Copy Air ticket Application cum FEMA Declaration form A 2 form (If the transaction more than USD 5000 or its equivalent) Landing papers issued by the Immigration department of the respective country. Form A2 cum FEMA Declaration form for release of exchange under emigration scheme. Emigration Visa. One way confirmed Air Ticket (only required in case of Currency & TCs issuance). Request form to have the undertaking from CCM that all originals including the passport, emigration documentary evidence, emigration visa and the ticket have been duly verified by him with photocopies to be kept for records. Photocopy of the crossed account payee cheque/draft or pay order along with debit advice to be kept.

Quantum of Exchange Up to US$ 100,000 per person or the amount prescribed by the country of emigration, subject to production of documentary evidence in support.

For drawing exchange beyond this amount, prior approval of RBI required. Personal Visit can be availed over and above the specified amount under this scheme.

Receipt of Payments All the payments for release of foreign exchange should be received in advance. In case of cheques acceptance, exchange to be released after cheque realization. Payments for release of foreign exchange up to Rs. 50,000 or its equivalent can be received in cash. When foreign exchange is drawn on more than one occasion within one month for a single journey/visit it should be treated as single transaction. The aggregate of rupee equivalent of foreign exchange drawn on different occasions for the single journey/visit should not exceed Rs.50,000, if cash is to be accepted. Wherever the rupee equivalent exceeds Rs 50,000, the entire payment to be accepted in advance and should be drawn from the bank a/c of the applicant. Payments could be accepted by way of Cheque, Pay order, Demand Draft, RTGS, NEFT. In case of release of exchange against acceptance of drafts/pay orders, approval from the competent authority as per draft acceptance guidelines should be held on records. Endorsement on passport: Clients Passport endorsement for the amount of Forex being sold is not mandatory unless requested by client. Things to remember Sales Cash memo duly stamped and signed by the CCM to be given to client. Sales cash memo/draft copy to be signed /stamped by client/purchaser towards acknowledgment of receipt of Foreign Exchange. Mode of receipt of payment from the client to be written on cash memo. Form A2 cum FEMA declaration should be fully completed along with clients signature. Exceptions In case of customers approaching Influencing Agents counter, the agent would be verifying the documents. Influencing Agents stamp along with the agent code would be affixed on Form A2. Visa may not be insisted upon in cases where remittance is send against application fee, processing fee etc; however, undertaking for the same to be obtained. 4. EMPLOYMENT Product: Bank Notes, Traveler Cheques, Forex Travel Cards, Telegraphic Transfer and Demand Draft. Eligibility Resident Indians going abroad for employment. Documentation At a glance Valid Passport Visa Copy Air ticket Application cum FEMA Declaration form A 2 form (If the transaction more than USD 5000 or its equivalent) Employment Visa / Work Permit and letter from the overseas employer Form A2 cum FEMA Declaration form for release of exchange under employment scheme.

Letter of appointment from the overseas organization in original. Employment Visa / Work Permit. One way confirmed Air Ticket (Only required in case of Currency & TCs issuance). Request form should have the undertaking from CCM that all originals including the passport, employment letter from overseas organization, employment visa/work permit and the ticket has been duly verified by him along with photocopies to be kept for records. Photocopy of the crossed account payee cheque / draft or pay order along with debit advice.

Quantum of Exchange Up to US$ 100,000 per person going abroad for employment. For drawing exchange beyond this amount, prior approval of RBI is required. Personal Visit can be availed over and above the specified amount under this scheme. Receipt of Payments All the payments for release of foreign exchange should be received in advance. In case of cheques acceptance, foreign exchange to be released after cheque realization. Payments for release of foreign exchange up to Rs. 50,000 or its equivalent can be received in cash. When foreign exchange is drawn on more than one occasion within one month for a single journey/visit should be treated as single transaction, the aggregate of rupee equivalent of foreign exchange drawn on different occasions for the single journey/visit should not exceed Rs.50,000, if cash is to be accepted. Wherever the rupee equivalent exceeds Rs 50,000, the entire payment to be accepted in advance and should be drawn from the bank a/c of the applicant. Payments could be accepted by way of Cheque, Pay order, Demand Draft, RTGS, NEFT. In case of release of foreign exchange against acceptance of drafts/pay orders, approval from the competent authority as per draft acceptance guidelines should be held on records. Endorsement on passport: Clients Passport endorsement for the amount of Forex being sold is not mandatory unless requested by client. Things to remember: Sales Cash memo duly stamped and signed by the CCM to be given to client. Sales cash memo/draft copy to be signed /stamped by client/purchaser towards acknowledgment of receipt of Foreign Exchange. Mode of receipt of payment from the client to be written on cash memo. Form A2 cum FEMA declaration should be fully completed along with clients signature. Exceptions In case of customers approaching Influencing Agents counter, the agent would be verifying the documents. Influencing Agents stamp along with the agent code would be affixed on Form A2. 5. STUDIES ABROAD Product: Bank Notes, Traveler Cheques, Forex Travel Cards, Telegraphic Transfer and Demand Draft. Eligibility Resident Indian going abroad for studies. Students holding Indian passports, who had earlier gone abroad for pursuing studies without availing of exchange, can avail foreign exchange for the balance period of the course. Students holding foreign passports dependent on their parents resident in India. Documentation

At a glance In case of Application amounts, confirmed admission not be insisted upon. Supporting document to be taken if available. Valid Passport or Government Issued ID In case of Confirmed admission, overseas college/university/educational institution copy of offer letter to be retained. Valid Passport Visa Copy Air ticket Application cum FEMA Declaration form A 2 form (If the transaction more than USD 5000 or its equivalent) Form A2 cum FEMA Declaration form for release of exchange under education scheme. In case of person traveling to USA Form I-20 to be taken if available. Prospectus/Offer Letter/Admission Letter in original, thereof giving full details of the course of study, tuition fees payable etc. Original Passport along with the Student Visa (In case of application fees, not required). Confirmed one-way Air ticket (Not required in case of application fees but mandatory in case of TCs issuance). Request form should have the undertaking from CCM that all originals including the passport, prospectus/offer letter/admission letter, student visa and the ticket have been duly verified by him with photocopies to be kept for records. Photocopy of the crossed account payee cheque / draft or pay order along with debit advice to be kept.

Quantum Of Exchange: US$ 100,000 per annum towards tuition fees, maintenance expenses books, etc. Foreign Exchange in excess of US$ 100,000 (at actual) per academic year may be released to the extent of the requirement of foreign exchange indicated in the letter from the overseas institution/university. Foreign Exchange may be released in the form of currency notes not exceeding US$ 3,000 and balance amount may be released in the form of Prepaid Forex Travel Card, Travelers Cheques/Demand Draft/TT in favor of the student or the educational institution, as directed by the applicant. Students going to Russia to other CIS countries, foreign exchange may be released in the form of currency notes for a period up to one year. Personal Visit entitlement can be availed over and above the specified amount under this scheme. Receipt of Payments All the payments for release of foreign exchange should be received in advance. In case of cheques acceptance, exchange to be released after cheque realization. Payments for release of foreign exchange up to Rs. 50,000 or its equivalent can be received in cash. When foreign exchange is drawn on more than one occasion within one month for a single journey/visit should be treated as single transaction, the aggregate of rupee equivalent of foreign exchange drawn on different occasions for the single journey/visit should not exceed Rs.50,000, if cash is to be accepted. Wherever the rupee equivalent exceeds Rs 50,000, the entire payment is to be accepted in advance and should be drawn from the bank a/c of the student or parent. Payments could be accepted by way of Cheque, Pay order, Demand Draft, RTGS, NEFT.

In case of release of foreign exchange against acceptance of drafts/pay orders, approval from the competent authority as per draft acceptance guidelines should be held on records.

Endorsement on passport: Clients Passport endorsement for the amount of Forex being sold is not mandatory unless requested by him. Things to remember: Sales Cash memo duly stamped and signed by CCM to be given to client. Sales cash memo to be signed / stamped by client /purchaser towards acknowledgment of receipt of foreign Exchange. Mode of receipt of payment from the client to be written on cash memo. Form A2 cum FEMA declaration should be fully completed along with clients signature. Exceptions In case of customers approaching Influencing Agents counter, the agent would be verifying the documents. Influencing Agents stamp along with the agent code would be affixed on Form A2. Student Visa & Air ticket may not be insisted in case of application fees, however, undertaking for the same to be obtained. 6. MEDICAL Product: Bank Notes, Traveler Cheques, Forex Travel Cards, Telegraphic Transfer and Demand Draft. Eligibility Resident Indian going abroad for Medical Treatment /Check Up. Must be suffering from an ailment requiring specialized treatment abroad. Resident Indian fallen sick after proceeding abroad. Accompanying as attendant. Documentation At a glance Valid Passport Visa Copy Air ticket Application cum FEMA Declaration form A 2 form (If the transaction more than USD 5000 or its equivalent) Supporting documents from the local hospital confirming that the client requires Medical treatment abroad Confirmation from Overseas Hospital with Cost confirmation. Form A2 cum FEMA Declaration Self Declaration for release of foreign exchange under medical scheme. Request form should have the undertaking from CCM that all originals including the passport, visa & the ticket have been duly verified by him with photocopies to be kept for records. Photocopy of the crossed account payee Cheque/ draft or pay order along with debit advice.

Quantum of Exchange For patient

Hospitalization Up to US$ 100,000 its equivalent for the patient going abroad for medical treatment or check up abroad.

For the attendant Upto US$ 25,000 for accompanying as attendant to a patient going abroad for medical treatment/check up. Personal Visit entitlement can be availed over and above the specified amount under this scheme. For release of foreign exchange for meeting expenses for medical treatment /check up abroad exceeding US$ 100,000, prior approval of RBI is required. Receipt of Payments All the payments for release of foreign exchange should be received in advance. In case of cheque acceptance, exchange to be released after cheque realization. Payments for release of foreign exchange up to Rs. 50,000 or its equivalent can be received in cash. When foreign exchange is drawn on more than one occasion within one month for a single journey/visit should be treated as single transaction, the aggregate of rupee equivalent of foreign exchange drawn on different occasions for the single journey/visit should not exceed Rs.50,000, if cash is to be accepted. Wherever the rupee equivalent exceeds Rs 50,000, the entire payment is to be accepted in advance and should be drawn from the bank a/c of the student or parent. Payments could be accepted by way of Cheque, Pay order, Demand Draft, RTGS, NEFT. In case of release of exchange against acceptance of drafts/pay orders, approval from the competent authority as per draft acceptance guidelines should be held on records. Endorsement on passport: Clients Passport endorsement for the amount of Forex being sold is not mandatory unless requested by client. Thing to remember: Sales Cash memo duly stamped and signed by CCM to be given to client. Sales cash memo to be signed / stamped by client /purchaser towards acknowledgment of receipt of foreign exchange. Mode of receipt of payment from the client to be written on cash memo. Form A2 cum FEMA declaration should be fully completed along with clients signature. Exceptions In case of customers approaching Influencing Agents counter, the agent would be verifying the documents. Influencing Agents stamp along with the agent code would be affixed on Form A2. 7. GOVERNMENT OFFICIALS Eligibility Member of Parliament / State Legislatures with Letter of sanction in original from Ministry of Finance, (Department of Economic affairs). Official of Central / any State Government with Letter of sanction in original from Administrative Ministry of Government of India (Central Government Employee). Members of Official / non official delegations financed out of central fund / state government with letter of sanction in original from Government of India (In case of Official of State government, Members of Parliament and State Legislature). Official in the office of Comptroller and Auditor General (C&AG) of India deputed abroad with Letter of sanction in original from C & AG office.

Documentation Request cum FEMA Declaration form for release of exchange under specific scheme. Form A2. Letter of sanction in original (blanket permit): 1. Ministry of Finance (Department of Economic affairs) or 2. Administrative Ministry of Government of India (Central Government Employee) or 3. Government of India ( In case of Official of State Government and Members of Parliament and State Legislature), or 4. Letter issued from C&AG office. Quantum of Exchange Up to US$ 25,000 per business trip, irrespective of periods of stay and number of times in a financial year. Personal Visit entitlement can be availed over and above the specified amount under this scheme. Receipt of Payments All payments should first be received in advance and should be routed through bank account. A Prior approval is required from competent authority for acceptance of cheques of concerned Ministries subsequent to the release of foreign exchange. Endorsement on passport: Clients Passport endorsement for the amount of Foreign exchange being sold is not mandatory unless requested by him. Things to remember: Sales Cash memo duly stamped and signed by CCM to be given to client. Sales cash memo to be signed / stamped by client/purchaser towards acknowledgment of receipt of foreign exchange. Mode of receipt of payment from the client to be written on cash memo. Form A2 should be fully completed along with clients signature. Application cum FEMA undertaking should be fully completed along with clients signature. 8. MAINTENANCE OF CLOSE RELATIVES ABROAD Product: Telegraphic Transfer and Demand Draft. Eligibility Resident Indian sending remittance for maintenance of his/ her close relative abroad. Resident Indian * but not permanently residing in India sending remittance for maintenance of his/ her close relative abroad. Any individual resident in India on account of his employment or deputation of a specified duration (irrespective of length thereof) or for a specific job or assignment, the duration of which does not exceed three years, is a resident Indian but not a permanent resident. Documentation Form A2 cum FEMA Declaration form for release of exchange under education scheme. Self Declaration regarding relation with the beneficiary. Identity Proof Govt. issued valid ID with photo & address Eg: Passport, Driving License, Voters ID Request form should have the undertaking from CCM that all originals including the applicant passport has been duly verified by him with photocopies to be kept for records. Photocopy of the crossed account payee cheque / draft or pay order along with debit advice to be kept.

Quantum of Exchange Up to US$ 100,000 per remitter / applicant per annum. For drawing exchange beyond this amount, prior approval of RBI is required. Things to remember: Sales Cash memo duly stamped and signed by CCM to be given to client. Sales cash memo to be signed / stamped by client /purchaser towards acknowledgment of receipt of Foreign exchange. Mode of receipt of payment from the client to be written on cash memo. Form A2 cum FEMA Declaration should be fully completed along with applicants signature Self Declaration should state the relationship between remitter & beneficiary along with applicants signature. Exceptions In case of customers approaching Influencing Agents counter, the agent would be verifying the documents. Influencing Agents stamp along with the agent code would be affixed on Form A2. 9. CASH TO MASTERS TRANSACTIONS PROCESS (CTM) OF SHIPPING COMPANIES Product: Bank Notes Background Often, foreign ships travel through India and dock their vessels at various ports / harbors in the country. One of the major requirements during such temporary stays is of Foreign Currency Notes that has to be made available to the Captain of the Ship for covering crew wages or for other expenses on board. These requirements are usually met through a facility called "Cash to Master". To collect this cash, the master of the ship has to either approach the FES location or Foreign exchange gets delivered by FES staff at the designated port. Beneficiary master has to submit copy of his passport and a duly filled up application form to avail the CTM amount. This product is available only in United States Dollars, Pounds Sterling and Euro . Transaction process Cash To Masters Transactions (CTM) Shipping Companies worldwide operate through their agents at respective ports. These shipping agents are the one which handle all requirements of the vessel at respective ports including the requirement of the vessel for foreign exchange. In order to deliver banknotes to the Master of the vessel, we first need to get a credit in our nostro for the amount of Foreign Exchange to be delivered plus the service charges. FES provides nostro details to the Indian Shipping agency who in turn deals with the parent company of the vessel and arranges to get the credit in our nostro along with the identification details of the master. The amount of credit to be received is based on actual amount to be delivered plus the commission to be charged on the deal. The Overseas shipping company credits our nostro account and sends a SWIFT message (MT 103) copy to Indian Shipping Company which in turn forwards it to the designated FES location. On receipt of the SWIFT advice FES over mail informs the credits in the designated USD Nostro a/c to the concerned department of IVBL, who in-turn confirms the receipt of the actual funds from the overseas shipping company. FES location over mail confirms Indian Shipping company about the receipt of the inward credit and reconfirms them about the FES charges and actual CTM amount to be delivered.

Indian Shipping agency over mail advice FES location about the CTM delivery details such as o Master Name, o Passport number, o Port of delivery, o Ship/ vessel name, o Delivery time and date. FES verifies / matches the beneficiary details given by the Indian shipping company with the details mentioned in the SWIFT advice sent by the overseas shipping company. Designated FES location enters the CTM transaction in Credence and generates bill from credence. FES coordinates the delivery with the regional Indian Shipping company office and reaches the port for CTM delivery. FES staff personally meets the beneficiary master and verifies his identity through his original passport which must match with the beneficiary details mentioned in the inward MT 103 message copy. FES staff hand over the CTM amount to the master of the ship and take the receipt signature on the cash memo and passport photocopy. Original copy of the cash memo is handed over to the master. Following additional documents are taken from the Master of the ship o Request letter from master of the ship with the seal of the ship. o Form A2 signed by master of the ship.

KYC Guidelines Indian shipping agency to provide the SWIFT message (MT103) of the amount remitted by the foreign shipping agency. CTM amount & delivery details to be furnished by Indian Shipping Agency over mail. At the time of CTM delivery, master of the ship shall be required to show the original valid passport which must match with the details mentioned in the MT 103 copy sent by the overseas shipping company. FES staff to keep masters passport photocopy (undertaking on documents verified to be done by the concerned FES staff) for necessary records. FES staff to collect Ship Masters signature on cash memo. 10. REMITTANCES FOR TOUR ARRANGEMENTS, ETC. (AT THE REQUEST OF THE TRAVELER) Eligibility Individuals traveling abroad on personal /Leisure visit or business visit can remit upto a reasonable limit towards his hotel accommodation, tour arrangements, etc. in the countries proposed to be visited by him, provided it is out of foreign exchange purchased by the traveler out of the limits prescribed as per FEMA guidelines (including foreign exchange drawn for private travel abroad). Quantum of exchange The amount remitted should be net of commission / mark up due to the Indian agent, since quantum of exchange is not specified in the RBI circular Documentation Form A2 cum FEMA Declaration form for release of exchange under personal visit scheme. Original passport for pages showing name, address, valid visa & passport number and validity should be verified by CCM. Request form should have the undertaking from CCM that all originals including the applicant passport has been duly verified by him with photocopies to be kept for records. Photocopy of the crossed account payee cheque /draft or pay order along with debit advice. If the applicant is a foreign national permanently resident in India, he/she should give an undertaking on the application itself that he/she is permanently resident in India and is not availing of facilities for remittance of his/her salary, saving etc. abroad in terms of existing FEMA Regulations.

All the above documents to be kept on record along with Copy of Cash Memo. Exceptions Visa may not be insisted upon in cases where travel is to a country-offering visa on arrival. However, undertaking for the same may be obtained. For Airline staff open ticket may be accepted. Proof of Airline staff may be kept in record. In case of customers approaching Influencing Agents counter, the agent would be verifying the documents. Influencing Agents stamp along with the agent code would be affixed on Form A2. Receipt of Payments All the payments for release of foreign exchange should be received in advance. In case of cheques acceptance, exchange to be released after cheque realization. Payments for release of foreign exchange up to Rs. 50,000 or its equivalent can be received in cash. When foreign exchange is drawn on more than one occasion within one month for a single journey/visit should be treated as single transaction, the aggregate of rupee equivalent of foreign exchange drawn on different occasions for the single journey/visit should not exceed Rs.50,000, if cash is to be accepted. Wherever the rupee equivalent exceeds Rs 50,000, the entire payment is to be accepted in advance and should be drawn from the bank a/c of the applicant. Payments could be accepted by way of Cheque, Pay order, Demand Draft, RTGS, NEFT. In case of release of foreign exchange against acceptance of drafts/pay orders, approval from the competent authority as per draft acceptance guidelines should be held on records. Endorsement on passport Clients Passport endorsement for the amount of Foreign exchange being sold is not mandatory unless requested by client. Things to remember Sales Cash memo duly stamped & signed by CCM to be given to client. Sales cash memo to be signed /stamped by client /purchaser towards acknowledgment of receipt of Foreign exchange. Mode of receipt of payment from the client to be written on cash memo. Form A2 cum FEMA Declaration should be fully complete along with clients signature Must ensure that the amount being remitted is within the total eligible amount under the scheme under which the traveler is traveling abroad. In respect of consolidated tours arranged by travel agents in India for foreign tourists visiting India and neighboring countries like Nepal, Bangladesh, Sri Lanka, etc., against advance payments / reimbursement through an authorized dealer, part of the foreign exchange received in India against such consolidated tour arrangement, may require to be remitted from India to these neighboring countries for services rendered by travel agents and hoteliers in these countries. Authorized dealers may allow such remittances after verifying that the amount being remitted to the neighboring countries (inclusive of remittances, if any, already made against the tour) does not exceed the amount actually remitted to India and the country of residence of the beneficiary is not Pakistan. 11. REMITTANCES FOR TOUR ARRANGEMENTS, ETC. (AT THE REQUEST OF THE AGENT) Eligibility Agents in India, having a good track record and satisfying all KYC norms, having tie up arrangements with hotels/agents, etc., abroad for providing hotel accommodation or making other tour arrangements for travelers from India, provided the remittance is made out of foreign exchange purchased by the concerned traveler from us

or from an authorized person out of the limits prescribed as per FEMA guidelines (including exchange drawn for private travel abroad). Documentation: Request Letter from the Tour Operator on the letter head duly signed by their authorized signatories clearly indicating the following details/particulars : o Request for the remittance with the currency, amount and date of remittance [In case of difference in amount between underlying document/s against the actual remittance amount, such adjustments should be explicitly stated along with the reason and final net amount to be remitted should be specified]. o Purpose of Remittance o Debit authority (if holding a/c with IVBL) authorizing the bank to debit their INR/EEFC account with us towards the amount of remittance and our charges / commission and o Beneficiary & Bank details for remittance. Form A2 cum FEMA Declaration Dully filled in and signed by authorized signatories. Copy of the tie-up agreement with foreign service providers (one time till validity) Invoice from beneficiary showing the details of amount to be remitted. Details of advance payment, if any, availed of and adjustment made. Agents declaration on behalf of the client to the effect: o that the remittance is being made out of the foreign exchange purchased by the concerned traveler from an authorized person (including foreign exchange drawn for private travel abroad) in accordance with the Rules, Regulations and Directions in force. o that he (agents) has received the undertaking from the traveler in addition to the normal required conditions applicable for release of foreign exchange that the traveler has/will purchase the foreign exchange from the Authorized person only and within the prescribed limits (including the amount now being remitted abroad as advance payment) in accordance with the Rules, Regulation and Direction in force. o that he will take care and follow up that the tour/services for which the advance is being/has been remitted should be executed and ensure that the beneficiary of advance remittance has fulfilled his obligation under the Contract/agreement/tie-up and will inform the Bank within reasonable time from the completion of the tour and undertake to repatriate the unspent advance remittance, if any. o that he undertakes to repatriate the advance remitted abroad in India with in reasonable time in case the tour program is cancelled or not executed by any reason what so ever. Quantum of exchange Amount as per the invoice of the overseas hotels/agent within the prescribed limits of personal / business visit foreign exchange quota. Receipt of Payments 1. The remittance is to be made only to the debit of foreign currency account in the name of the agent with us, which can be opened for this purpose with any of our AD branch. 2. DD in FC issued from the foreign currency account in the name of the agent maintained with other ADs along with a certificate issued by the AD certifying that the amt is debited to the FC account of the agent. 3. Debit of Current a/c of the agent with us. 4. Crossed cheque drawn on applicants bank account, 5. Pay order /Demand Draft issued from the applicants bank a/c 6. RTGS/NEFT transfer from applicants bank a/c Things to remember Sales Cash memo duly stamped & signed by CCM to be given to client.

Sales cash memo to be signed /stamped by client /purchaser towards acknowledgment of receipt of Forex. Mode of receipt of payment from the client to be written on cash memo. Form A2 cum FEMA Declaration should be fully completed along with clients signature & stamp. Request letter should be fully completed along with clients signature & stamp. Must ensure that the amount being remitted is within the total eligible amount under the scheme under which the traveler is traveling abroad. In case the payment is to be made after the completion of the tour (Post Payment) the agreement/tie up arrangement submitted by the agent should clearly provide/allow such arrangement and the agent must inform to us in advance before conducting the tour.

Exceptions Agreement with overseas service providers wouldnt be available for all arrangements. A mail communication with the overseas party in the official e-mail ID & invoice raised by the overseas beneficiary could be obtained. 12. REMITTANCES UNDER LIBERALIZED REMITTANCE SCHEME Eligibility All Resident Individuals are eligible to avail the facility under the scheme. The facility will not be available to corporate, partnership firms, HUF, Trusts, etc.

Quantum of exchange USD 200,000. The facility will be per financial year basis (April-March) for any current or capital account transactions or a combination of both. Investment by resident individual in overseas companies would be sub-summed under the Scheme of USD 200,000. Limit of USD 200,000 under the Scheme would also include remittances towards Gift and donation by a resident individual. Purpose This facility is available for making remittance up to USD 200,000 per financial year basis (April-March) for any current or capital account transactions or a combination of both. Under this facility, resident individuals will be free to acquire and hold immovable property or shares or any other asset outside India and will also be able to open and maintain and hold foreign currency accounts with a bank outside India for making remittances under the scheme. The foreign currency account may be used for putting through all transactions connected with or arising from remittances eligible under this scheme. Gift Donation The remittance facility under the scheme is not available for the following: Remittance for any purpose specifically prohibited under Schedule-I (like purchase of lottery/sweep stakes, tickets proscribed magazines etc) or any item restricted under Schedule II of Foreign Exchange Management (Current Account Transactions) Rules, 2000. Remittance made directly or indirectly to Bhutan, Nepal, Mauritius or Pakistan. Remittances made directly or indirectly to countries identified by the Financial Action Task Force (FATF) as non co-operative countries and territories viz Cook Islands, Egypt, Guatemala, Indonesia, Myanmar, Nauru, Nigeria, Philippines and Ukraine.

Remittances directly or indirectly to those individuals and entities identified as posing significant risk of committing acts of terrorism as advised separately by the Reserve Bank to the Banks. Transactions in the nature of remittance for margins or margin calls to overseas exchanges/overseas counterparty are not allowed under the Scheme. It is clarified that the banks should not allow any kind of credit facilities to resident individuals to facilitate remittances under the Scheme.

Remittance Procedure Requirements to be complied with the remitter: Form A2 cum FEMA Declaration form for release of foreign exchange. The remitter individual will have to designate our branch through which all the remittances under the scheme will be made. Liberalised Scheme Application duly filled in all respect and signed by the applicant to be taken. Requirements to be complied While allowing the facility to resident individuals, ensure that the Know Your Customer Guidelines have been implemented in respect of these accounts and also ensures that they should also comply with the Anti-Money Laundering Rules in force while allowing the facility. In case the applicant is the existing account holder of our bank, he should have maintained the bank account for a minimum period of one year prior to the remittance. If the applicant seeking to make the remittance is a new customer of the bank, we must take confirmation from the respective branch that they have carried out due diligence on the opening, operation and maintenance of the account. Further obtain bank statement for the previous year (ONE YEAR STATEMENT) from the applicant to satisfy regarding the source of funds. If such a bank statement is not available, copy of the latest Income Tax Assessment Order or Return filed by the applicant is to be obtained. In case the remitter is not having account with us in that case must ensure that the payment is received out of funds belonging to the person seeking to make the remittance, by a cheque drawn on the applicant's bank account or by debit to his account or by Demand Draft / Pay Order/RTGS/NEFT. Further obtain bank statement for the previous year (ONE YEAR STATEMENT) from the applicant to satisfy regarding the source of funds. If such a bank statement is not available, copy of the latest Income Tax Assessment Order or Return filed by the applicant to be obtained. The remitting office must certify that the remittance is not being made directly or indirectly by /or to ineligible entities and that the remittances are made in accordance with the instructions issued by Reserve Bank from time to time under the scheme. Requirements to be complied with the remitter (Customer) Request cum FEMA Declaration form for release of exchange The remitter individual will have to designate our branch through which all the remittances under the scheme will be made. Application cum declaration duly filled in all respect and signed by the applicant is to be taken. Requirements to be complied by Branch Counter (Counter Staff) To Comply with KYC & AML Guidelines while allowing the facility If the applicant is an existing account holder, he should have maintained the account for a period of one year. If the applicant is a new customer, Counter Staff must take respective confirmation from the respective branch that they have carried out due diligence on the opening, operations & maintenance of the account

 Obtain the bank statements from the applicant for to check the source of funds. If unavailable, please ask for latest Income Tax Statement Order/ Return filed by the applicant / PAN In case the applicant doesnt have account with us, in that case the payment to be taken in the form of Cheque drawn on applicants accounts/ debit to his account or by Demand Draft/ Pay Order. The remitting office (CPU) must certify that remittance is not being made directly or indirectly to ineligible entities and follow RBI guidelines. Things to remember: Form A2 cum FEMA Declaration should be fully completed along with clients signature. Liberalised Scheme Application should be fully completed along with clients signature. Must ensure that the amount being remitted is within the total eligible amount of USD 200,000 under the scheme and the payment is received out of funds belonging to the person seeking to make the remittance, by a cheque drawn on the applicants bank account or by debit to his account or by Demand Draft/Pay order/RTGS/NEFT. The facility under the scheme is in addition to those already available for private travel, business travel, studies, medical treatment etc as described in Schedule III of Foreign Exchange Management (Current Account Transactions) Rules, 2000.

13. OTHERS Period of surrender of foreign exchange In case the foreign exchange purchased for a specific purpose is not utilized for that purpose it could be utilized for any other eligible purpose for which drawl of foreign exchange is permitted. The unutilized portion of foreign exchange is required to be surrendered to Bank within period of 180 day from the date of its purchase. Unspent Foreign Exchange Unspent foreign exchange brought back to India by a traveler should be surrendered within 180 days from the date of return of the traveler, if the unspent foreign exchange is in the form of currency notes. If such foreign exchange is in the form of travelers cheques, the same should be surrendered to an authorized person within 180 days from the date of return. The traveler can utilize foreign Exchange brought back for his subsequent visit abroad during the period specified above. However, a returning traveler is also permitted to retain with him, foreign currency travelers cheques and currency notes up to an aggregate amount of USD 2000 and foreign coins without any ceiling. The traveler can utilize foreign exchange so retained, for his subsequent visit abroad.