Maintaince funds

[rajdelhi1979]

Below two queries on maintainance funds :-

1. On and What day currency rate home office will calculate the maintainance fund requirement. I have funds maintainened in INR .

2. Out of three months if at particular day balance goes below INR2000 and then on the same day it gets back to its position with much more amount. Is that a problem ?

3. Is it ok if on a particular day in three months the balance is just at its border line ?

[push]

1. On and What day currency rate home office will calculate the maintainance fund requirement. I have funds maintainened in INR .

Para 198 of the Guidance note says:

The exchange rate of overseas currency will be made using the OANDA rate conversion on the date of application.

2. Out of three months if at particular day balance goes below INR2000 and then on the same day it gets back to its position with much more amount. Is that a problem ?

I would say not even for a second.

3. Is it ok if on a particular day in three months the balance is just at its border line ?

Yes as long as it is above.

[rajdelhi1979]

Thanx for reply.

Do you know what rate they take from onada site , is it interbank rate , typical cash rate etc ?

[AkashS]

1. On and What day currency rate home office will calculate the maintainance fund requirement. I have funds maintainened in INR .

Para 198 of the Guidance note says:

The exchange rate of overseas currency will be made using the OANDA rate conversion on the date of application.

2. Out of three months if at particular day balance goes below INR2000 and then on the same day it gets back to its position with much more amount. Is that a problem ?

I would say not even for a second.

3. Is it ok if on a particular day in three months the balance is just at its border line ?

Yes as long as it is above.

Just to add on push_hsmp advise. Balance is counted on the closing basis of the day. So if you have 10k in the account and you withdraw 5k in the morning and deposited 25k by the end of the same day, then your balance would be counted as 30k for that day.

[rajdelhi1979]

Do you know what rate they take from onada site , is it interbank rate , typical cash rate etc ?