+91 98199 07217 hrfoxexmumbai@gmail.com

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DADAR’S MOST TRUSTED FOREX STORE IN MUMBAI

HR FOREX

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DADAR’S MOST TRUSTED FOREX STORE IN MUMBAI

HR FOREX

Contact

About Us

HR Forex Pvt. Ltd is a RBI approved full fledged Money Changer (RBI Licence No.FE.MUM. 2041/2019). Managed by experience people, professionally qualified and well experienced directors in the field of foreign exchange. HR Forex provides you with the best and affordable exchange offers.

It’s one of the leading organization of Forex in Mumbai. We guarantee fast, friendly and efficient services. There are various services in which we take interest which are as follows: buying and selling of foreign currency, prepaid travel cards, in bound money transfer-western union money transfer. Thus, offering you an entire basketful of products and services under one roof. We can deliver Forex to your doorstep and we would be glad to be at your service.

With HR Forex you will make the right choice for all your Forex requirements. The company is Officially situated in Dadar East an ideal Business Center of Mumbai.

 

Our Services

Foreign Currency

Foreign Currency is the most comfortable way to use cash while on the go, to meet your personal expenses.

Forex Card

Forex Cards are a convenient, safe and smart way to carry and spend money while travelling abroad.

Outward Remittance

We are authorized by Reserve Bank of India to remit money abroad for certain specified purposes.

Overseas Travel Insurance

Whatever the purpose you’re travelling for, insurance protection for yourself and your family doesn’t need a second thought.

Overseas Education

Applying for education abroad is hands down a life changing decision, and all great things in life only come with sincere effort and hard work.

Medical Treatment

Equivalent to resident Indians for medical treatment abroad on self declaration basis of essential details, without insisting on any estimate from a hospital/doctor in India/abroad.

Frequently Asked Questions

Can one pay by cash full rupee equivalent of foreign exchange being purchased for travel abroad ?

Foreign exchange for travel abroad can be purchased from an authorized person against rupee payment in cash below Rs.50,000/-. However, if the sale of foreign exchange is for the amount equivalent to Rs 50,000/- and above, the entire payment should be made by way of a crossed cheque/ banker’s cheque/ pay order/ demand draft/ debit card / credit card / prepaid card only.

How much day in advance one can buy foreign exchange for travel abroad ?

Permissible foreign exchange can be drawn 180 days in advance by an individual, resident in India.

How much foreign currency can be carried in cash for travel abroad ?

Travellers going to all countries other than (a) and (b) below are allowed to purchase foreign currency notes / coins only up to USD 3000 per visit. Balance amount can be carried in the form of store valu1e cards, travellers cheque or banker’s draft. Exceptions to this are (a) travellers proceeding to Iraq and Libya who can draw foreign exchange in the form of foreign currency notes and coins not exceeding USD 5000 or its equivalent per visit; (b) travellers proceeding to the Islamic Republic of Iran, Russian Federation and other Republics of Commonwealth of Independent States who can draw entire foreign exchange (up-to USD 250,000) in the form of foreign currency notes or coins.For travellers proceeding for Haj/ Umrah pilgrimage, full amount of entitlement (USD 250,000) in cash or up to the cash limit as specified by the Haj Committee of India, may be released by the ADs and FFMCs.

Is there any time-frame for a traveller who has returned to India to surrender foreign exchange ?

On return from a foreign trip, travellers are required to surrender unspent foreign exchange held in the form of currency notes and travellers cheques within 180 days of return. However, they are free to retain foreign exchange up to USD 2,000, in the form of foreign currency notes or TCs for future use or credit to their Resident Foreign Currency (Domestic) [RFC (Domestic)] Accounts.

Is the tour itinerary susceptible to last minute changes, as we need to plan our leaves & make necessary arrangements accordingly ?

We do not change the itinerary nor date of the tour, however in case of force majeure events, circumstances force us to change the routing or date of the tour, as the case may be, just for your safety.

Should foreign coins be surrendered to an Authorised Dealer on return from abroad ?

The residents can hold foreign coins without any limit.

How much Indian currency can be brought in while coming into India ?

A resident of India, who has gone out of India on a temporary visit may bring into India at the time of his return from any place outside India (other than Nepal and Bhutan), currency notes of Government of India and Reserve Bank of India notes up to an amount not exceeding Rs.25,000. A person may bring into India from Nepal or Bhutan, currency notes of Government of India and Reserve Bank of India notes, in denomination not exceeding Rs.100. Any person resident outside India, not being a citizen of Pakistan and Bangladesh and also not a traveller coming from and going to Pakistan and Bangladesh, and visiting India may bring into India currency notes of Government of India and Reserve Bank of India notes up to an amount not exceeding Rs. 25,000 while entering only through an airport.Any person resident in India who had gone to Pakistan and/or Bangladesh on a temporary visit, may bring into India at the time of his return, currency notes of Government of India and Reserve Bank of India notes up to an amount not exceeding Rs. 10,000 per person.

How much foreign exchange can be brought in while visiting India ?

A person coming into India from abroad can bring with him foreign exchange without any limit. However, if the aggregate value of the foreign exchange in the form of currency notes, bank notes or travellers cheques brought in exceeds USD 10,000 or its equivalent and/or the value of foreign currency alone exceeds USD 5,000 or its equivalent, it should be declared to the Customs Authorities at the Airport in the Currency Declaration Form (CDF), on arrival in India.

How Much amount can be remit in a financial year by an individual ?

Under the Liberalised Remittance Scheme, all resident individuals, including minors, are allowed to freely remit up to USD 2,50,000 per financial year (April – March) for any permissible current or capital account transaction or a combination of both. Further, resident individuals can avail of foreign exchange facility for the purposes mentioned in Para 1 of Schedule III of FEM (CAT) Amendment Rules 2015, dated May 26, 2015, within the limit of USD 2,50,000 only. The Scheme was introduced on February 4, 2004, with a limit of USD 25,000. The LRS limit has been revised in stages consistent with prevailing macro and micro economic conditions. In case of remitter being a minor, the LRS declaration form must be countersigned by the minor’s natural guardian. The Scheme is not available to corporates, partnership firms, HUF, Trusts etc.

What are the purpose under FEM (CAT) Amendment Rules, 2015 Under which a resident individual can avail of foreign exchange facility ?

Individuals can avail of foreign exchange facility for the following purposes within the LRS limit of USD 2,50,000 on financial year basis:

  • – Private visits to any country (except Nepal and Bhutan)
  • – Gift or donation
  • – Going abroad for employment
  • – Emigration
  • – Maintenance of close relatives abroad
  • – Travel for business, or attending a conference or specialised training or for meeting expenses for meeting medical expenses, or check-up abroad, or for accompanying as attendant to a patient going abroad for medical treatment/ check-up
  • – Expenses in connection with medical treatment abroad
  • – Studies abroad
  • – Any other current account transaction which is not covered under the definition of current account in FEMA 1999

The AD bank may undertake the remittance transaction without RBI’s permission for all residual current account transactions which are not prohibited/ restricted transactions under Schedule I, II or III of FEM (CAT) Rules, 2000, as amended or are defined in FEMA 1999. It is for the AD to satisfy themselves about the genuineness of the transaction, as hitherto.

Are there any Restrictions on the frequency of the remittance ?

There are no restrictions on the frequency of remittances under LRS. However, the total amount of foreign exchange purchased from or remitted through, all sources in India during a financial year should be within the cumulative limit of USD 2,50,000. Once a remittance is made for an amount up to USD 2,50,000 during the financial year, a resident individual would not be eligible to make any further remittances under this scheme, even if the proceeds of the investments have been brought back into the country.

Can remittance be made only in US Dollars ?

The remittance can be made in any freely convertible foreign currency.

Guide Lines

Authorized Dealer Category-II Money Changers can undertake

Purchase – from Residents / Non- Residents

Sales to Residents for Private Travel and Business Travel.

AD-Category II can undertake specified Non- Trade Current A/C

Transactions in addition to the above.

For limits and conditions – kindly refer to the table under “Forex Limits”

Bringing in and taking out of Foreign Exchange

Foreign Exchange can be brought into India without limit;

Declaration in form CDF necessary if the Amount > USD 10,000 (FC notes + TCs) and / or FC notes exceed USD 5000;

Taking out Foreign Exchange other than that obtained from AD/AMC prohibited;

Non- residents can take out Foreign Exchange up to the amount originally brought in;

Purchases of Foreign Currency from Public /Foreign Nationals

Purchase from Residents / Non – Residents/foreign nationals FC Notes/ Coins/ TC’s subject to submission of CDF (wherever applicable) to be taken;

Facility to avail INR against International Credit Cards by foreign tourists

Encashment Certificate to be issued in all cases of Encashments;

No limit for encashment is prescribed, if declared on the Currency Declaration Form (CDF) on arrival to the customs authorities.

No declaration in CDF is required for Foreign Currency with aggregate value upto US 5000 or equivalent;

No declaration in CDF is required for FC + TC with aggregate value upto US 10000 or equivalent;

For purchase of foreign currency notes and/ or Travellers’ Cheques from customers for any amount less than Rs.50,000/-, or its equivalent, copies of identification documents not required.

However, details of the identification document to be furnished by the customer/ to be kept on record by the AMC;

Sale of foreign exchange Private Visits / Business Visits

Sale against application, identification documents and declaration regarding Foreign Exchange availed during the financial year;

Private visit- up to USD 10,000 per financial year.

Business visit-up to USD 25,000 per trip for Business / Conference / Training etc.

TC issue subject to conditions of TC issuing company;

Traveler to sign on the TC in the presence of Authorized official of AMC;

Payment in excess of Rs.50, 000 to be received by Cheque / DD;

Foreign Currency Notes up to USD 3000 and balance in TC’s/Travel cards;

Exemptions – Travelers visiting

Libya & Iraq up to US $ 5000

Islamic Republic of Iran, Russian Federation and commonwealth of Independence States – Entire exchange to be released in FC notes;

Sales against Reconversion of Indian Currency

Non-residents are allowed to reconvert unspent INR at the time of their departure subject to production of a valid Encashment Certificate

Non-residents are allowed to reconvert INR up to Rs.10,000 without a valid Encashment Certificate, for bonafide reasons, if departure is scheduled to take place within the following seven days.

Facility for reconversion of Indian Rupees to the extent of Rs. 50,000/- to foreign tourists (not NRIs) against ATM Receipts, are allowed subject to submission of the following documents

Valid Passport and VISA

Ticket confirmed for departure within 7 days.

Original ATM slip (to be verified with the original debit/ credit card).

Bank Details

Mode of Payment

Mode of payment made as prescribed by Reserve Bank Of India

HDFC BANK

Bank : HDFC

Branch : Dadar TT. Mumbai

Current Account No. :  50200030495088

IFSC Code : HDFC0000084

Company Name : HASTIMAL RUPCHAND FOREX PVT LTD