Limit of USD 2,50,000* or it’s equivalent per financial year is applicable for the below mentioned purposes of travel:
- Private Visit (Leisure Travel)
- Accompanying patient abroad
- Business Travel from Individual/ Proprietorship account
- Medical Treatment/ Person who has fallen sick after going abroad
*The overall limit available for an individual, under Liberalised Remittance Scheme for Resident Individuals (LRS) is USD 2,50,000 per financial year and the other limits as per Schedule III pertaining to travel, business, medical, education, immigration, etc have been subsumed under the LRS limit (within the overall limit of USD 2,50,000 per financial year). Hence the limit is the combined limit available for various purposes and products.
Please note that any remittance exceeding USD 2,50,000 should be as per RBI guidelines. For more information, please contact the nearest ICICI Bank Forex Servicing branches.