BANKING AFFAIRS

Detailed explanation-1: -Under the Liberalised Remittance Scheme (LRS), the Reserve Bank of India (RBI) requires a Declaration Form (A2 Form) to transfer funds abroad. Please note that the Indian Government and the Reserve Bank of India requires an LRS declaration to be completed every time money is sent abroad.

Detailed explanation-2: -Under the Liberalised Remittance Scheme (LRS), the Indian government and the Reserve Bank of India (RBI) now require an LRS Declaration form (fully titled “A2 cum LRS Declaration”) to transfer funds abroad. If you select to pay via “Domestic Bank Transfer in INR”, you may be required to fill out and submit this form.

Detailed explanation-3: -Form A2 is a FEMA declaration cum application for the purchase of foreign exchange for remittance purposes. The remitter needs to fill up the details on the amount of remittance, beneficiary detail and the NRI repatriation purpose code to indicate the reason for repatriation.

Detailed explanation-4: -Copy of valid passport and Visa of beneficiary in case the remittance is for family maintenence. Details of emigration expenses. Medical certificate or estimate of hospital/Doctor in case of Medical treatment abroad in case remittance is for an amount beyond USD 250, 000.00 or it’s equivalent..