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Up to $50,000 allowed for medical treatment abroad

Our Bureau

MUMBAI, Sept. 6

THE Reserve Bank of India has decided to allow authorised dealers to release foreign exchange of up to $50,000 to Indian residents for medical treatment outside India, on the basis of a declaration of requirement given by the applicant.

However, the payment for purchase of such foreign exchange must be made by cheque or by debit to the applicant's account.

Under the existing regulations residents can purchase foreign exchange in India, for medical treatment outside India, only on the production of an estimate from a doctor or hospital, giving the likely expenses involved in the treatment.

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