Foreign Currency Exchange & Money Transfer in Tenkasi (New RBI Rules 2026)

(Financial & Travel News)

If you have children studying abroad, relatives working in the Gulf, or if you are planning an international trip, you will definitely need to deal with Foreign Currency Exchange or Outward Remittances (Sending money abroad).

Recently, the Reserve Bank of India (RBI) updated its Liberalised Remittance Scheme (LRS) rules for 2026. Here is what residents of Tenkasi need to know before sending or receiving foreign money.

New RBI Rules on Sending Money Abroad (2026)

Under the LRS scheme, any Indian resident can send up to $250,000 per financial year to another country. However, the taxation (TCS) rules have become stricter:

1. For Education & Medical: If you are sending money for your child's overseas education or for medical treatment, amounts up to ₹10 Lakhs have Nil TCS (Tax Collected at Source). Amounts above ₹10 Lakhs attract a nominal 2% TCS.
2. For Tourism, Gifts & Investments: If you are sending money to relatives abroad as a gift, or booking an international tour, any amount above ₹10 Lakhs will attract a 20% TCS.
3. Digital Compliance: The RBI has mandated strict KYC and PAN card linking for all foreign exchanges to prevent fraud.

How to Exchange Foreign Currency Safely in Tenkasi?

Whether you are returning from Dubai with Dirhams (AED) or traveling to Singapore and need Singapore Dollars (SGD), exchanging money safely is crucial.

Many people make the mistake of exchanging money at the airport, where the exchange rates are terrible, and hidden commission fees are huge!

Why Choose SM Tours for Forex? At SM Tours and Travels in Tenkasi, we offer authorized and highly secure Foreign Exchange services:

• Best Exchange Rates: We monitor live market rates to give you the most value for your Indian Rupees.
• Zero Hidden Commissions: Transparent transactions with proper GST bills.
• Fast Processing: Immediate cash or account transfers for major currencies like US Dollar (USD), Euro (EUR), Dirham (AED), Saudi Riyal (SAR), and Singapore Dollar (SGD).

Sending & Receiving Money from Abroad (Remittance)

Do you need to urgently send tuition fees to a university in the UK? Or receive money from your family working in Kuwait?

We provide comprehensive support for:

• Outward Remittance: Send money safely for education, medical, or family maintenance with full RBI compliance.
• Inward Remittance: Receive money from abroad smoothly into your local bank account.
• Documentation Support: We help you fill out the mandatory Form A2 and ensure your PAN and KYC are perfectly aligned to avoid transaction blocks.

Need Forex or Remittance Support?

Don't struggle with complex bank rules and paperwork. Let the experts at SM Tours and Travels handle your foreign currency and money transfer needs smoothly and legally.

📍 Visit Us: Come directly to our office in Tenkasi for a secure transaction.
📞 Contact Us: Click the WhatsApp button on your screen for today's live currency exchange rates or remittance support!