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RBI ReportPublished 5 Oct 2026Read time 1 minEffective 1 Oct 2026

RBI Updates Rules for Sending Money Abroad Online

RBI updated which bank officials can approve internal rules for online foreign transfers.

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For information only. Not financial advice. Verify with official sources before taking any action.

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What happened

The RBI has updated who inside a bank can approve the internal rules for online foreign money transfers. Earlier, only the full Board of the bank could approve these guidelines. Now, a Board Committee or Management Committee can also approve them, if the Board has given them that power.

Why it matters

Banks need internal guidelines to process online requests when you send money abroad using Form A2. Form A2 is a declaration form you fill when sending money outside India — for example, for education fees, travel, or investments. This change makes it easier for banks to finalise and update those internal guidelines faster.

What to check

  • →Check with your bank whether they now accept online submission of Form A2 for sending money abroad.
  • →Ask your bank what documents they require alongside Form A2 for outward remittances.
  • →Find out if your bank has set any internal limits on the amount you can remit online versus in person.
  • →Look at the Liberalised Remittance Scheme (LRS) rules — LRS allows Indian residents to send up to ₹2500000 per year abroad — to understand the overall limit that still applies.
  • →Consider checking your bank's website or branch for their latest remittance guidelines, as each bank may have different procedures.

This is general information, not financial advice. Check your own position with your lender or an adviser.

What this means for you

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