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RBI's prior nod not needed

Mumbai Jan. 30. Further liberalising the use of international credit cards (ICCs), the Reserve Bank of India has said that its prior nod will not be required for availing forex exceeding $ 10,000 per calendar year for private travel and $ 25,000 for business travel through ICCs.

The relaxation would also be applicable for travel related to international conference, training and medical treatment, RBI said here today. The facility is available to all residents, subject to their credit limit as may be fixed by the card issuer. — PTI

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