Are residents permitted to use International Credit Cards for making payments for goods and services procured in India?
Yes, residents can use ICCs for making payments for goods and services procured in India. * Are residents compulsorily required to pay in foreign exchange for the use of ICC in India? No, for use of ICC in India, the cardholders have a choice to settle such bills in rupees or foreign exchange. * Can a resident use International Credit Card issued in India for payment in Nepal and Bhutan also? International Credit Cards issued in India are valid for payment only in rupees in respect of liabilities created in Nepal and Bhutan. Residents are, therefore, prohibited from incurring foreign exchange liability against such cards in Nepal and Bhutan. * Is there any special facility for residents who were non-residents earlier and are maintaining foreign currency accounts in India or abroad? There is no restriction on end use of the cards where the claims against the International Credit Cards are settled from funds held in foreign currency accounts abroad or from Resident Foreign Currency accou
