How much money is allowed to carry, while joining a college?
RBI allows you to take up to US $100,000 and even a higher amount in case your institute certifies that the tuition and living expenses exceed US $100,000 per year. It’s easy to obtain foreign exchange to study abroad and RBI will not restrict you. It is sensible to carry your money in denominations: traveller’s cheques, cash and demand drafts. However, RBI does not permit individuals to carry more than US$3000 in cash (few exceptions to this rule). You can also wire transfer your money to the university’s account before you get there. If you prefer, you can top up a prepaid forex card and use it as a debit or ATM card
Submit Your Query