Unit II Essay-IM
February 11, 2021
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February 11, 2021

Mr. Sane, an Indian national desires to obtain Foreign Exchange for the following purposes:

Mr. Sane, an Indian national desires to obtain Foreign Exchange for the following purposes:

  1. Remittance of US $50,000 out of winnings on a lottery ticket.
  2. US $1,00,000 for sending a cultural troupe on a tour of U.S.A.

US $50,000 for meeting the expenses of his business tour to Europe. Advise him whether he can get Foreign Exchange and if so, under what conditions?

 

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