What is Outward Remittance?
An Outward Remittance is repatriation of the money in the form of foreign exchange, by a Non-Resident, in India, to his account or to a beneficiary situated outside India (except in Nepal and Bhutan) for those purposes approved under FEMA (Foreign Exchange Management Act).

What are the modes of doing an Outward Remittance?
Money can be sent abroad through the following modes:

Does ICICI Bank charge for repatriation?
The repatriation facility is available to the Non-Residents at a nominal foreign currency conversion charge of Rs 25 (inclusive of Service tax).

What is the process to do an Outward Remittance?
The NRI can do an Outward Remittance by placing the request through the Internet or visiting any of the ICICI branch & submitting the required documentation according to your purpose of remittance. Click here for documentation

Can I repatriate the current income?
The current income (Rent, Dividend, Pension, & Interest) can be repatriated out of the NRO account by submitting the required documents. Click here for documentation

Can I do an Outward Remittance for maintenance of close relatives?
A foreign national (other than Pakistan) employed in India and not Permanently Resident in India can do an Outward Remittance up to the limit of Net salary (after deduction of tax and Provident Fund contributions and other deductions) for Maintenance of close relatives. Click here for documentation

Can I repatriate the capital gain arising out of the sale proceeds of the property brought out of funds from Abroad?
The capital gain on the sale of the property can be repatriated, for any bonafide purpose for remittances up to USD 10,00,000 per calendar year. Click here for documentation

Can I place a request for repatriation by premature closure of NRE FD/ FCNR on infinity?
Yes. You can request for the same on infinity. However, it should be noted that request for premature closure of NRE / FCNR FD held in joint names requires signatures of all the accountholders. Hence it is advisable to use the offline mode i.e through ICICI Bank branches.

Please note: Forex markets remain closed on Saturday and Sunday and hence no transaction processing takes place on Saturday, Sunday and banking holidays in the remittance country and India. Click here for holiday list