Study Money

Foreign Exchange Entitlement for Studies abroad

  • Upto US$ 100,000/- per academic year towards tuition fees, maintenance expenses, books etc. is the RBI prescribed limit. (For details on Foreign Exchange Entitlement and Documents required for release of exchange, do check the RBI Regulations applicable to students travelling for higher studies.)
  • For releasing exchange for subsequent years, letter from the overseas University/institution confirming:
    - student is continuing studies
    - further duration of the course & funds required
    - Scholarship/Assistantship, if awarded.

Prescribed Foreign Exchange Instruments

  • Exchange may be released in the form of currency notes not exceeding US$ 2000 and balance may be released in the form of travellers? cheques/draft/telegraphic transfer in favour of the student or educational institution, as desired by the applicant
  • Students travelling to Russia or CIS can avail of entire FX in form of Currency Notes
  • In case of an emergency, inward/outward wire funds transfer can be effected through the Thomas Cook network
  • Wire transfers to USA also effected through our correspondent banks to credit self/University account
  • MoneyGram, money transfer service can be used by students abroad to send money on special occasions or for regular remittances to India

Travel Money

  • Students are also entitled to foreign exchange under the Basic Travel Quota. Every Resident Indian citizen is entitled to a Basic Travel Quota of USD 10,000/- per calendar year.
  • Do avail of your BTQ entitlement since this can be issued only in person and cannot be remitted. (For details on foreign exchange entitlement and documents required, do check the RBI Regulations applicable for personal travel).

Foreign Exchange for other study related purposes

Thomas Cook also releases foreign exchange on account of the following study related purposes:

Application for prospectus/admission forms from foreign University

  • Draft released as per amount stated on invoice

Documents required:

  • Invoice from overseas University/Institution
  • Application from student to the AD for releasing FX
  • A-2 form & Draft order form (available with our offices)

Remittance to foreign University/Institution for examinations held in India.

  • Draft released as per amount stated on invoice.

Documents required:

  • Invoice from overseas University/Institution
  • Application from student to the AD for releasing FX
  • A-2 form & Draft order form (available with Authorised Dealers)

Travelling to appear for examinations held abroad

  • Draft released as per examination fee stated on the invoice.

Documents required:

  • Passport. Plus invoice from overseas University/Institution.
  • Application from student to the AD for releasing FX
  • A-2 form & Draft order form (available with our offices)
 
 

Up Coming Visits