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| Topic: |
Business
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| Number of pages / Number of words: |
3 / 617 |
Essay's paper body
The processes are expected to be completed by December 4, 2006.
How does capital a/c convertibility affect you?
As most of us know, resident Indians cannot move their money abroad freely. That is, one has to operate within the limits specified by the Reserve Bank of India and obtain permission from RBI for anything concerning foreign currency...
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For business travel, the yearly limit is $25,000. Similarly, you can gift or donate up to $5,000 in a year.
The RBI limit raises the limit if you are going abroad for employment, or are emigrating to another country, or are going for studies abroad: the limit in both these cases is $100,000.
You are also allowed to invest into foreign stock markets up to the extent of $25,000 in a year...
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