In Sep 2016, Mr. P, went to USA, London and Germany on a month long business trip. For this trip he got exchanged US$ 50000 from an authorized dealer. In December 2016 he remitted US$ 50000 to his son in Canada, who was studying there. In January 2017 he sent his mother and wife to America for his mothers treatment and for the purpose he remitted US$ 75000 to his younger brother, who was living there. In March 2017 his daughter got engaged and she opted for a destination marriage to be held in May 2017, in Switzerland. While on trip to Dubai in the March end, 2017, he spent US $ 35000 for his daughters shopping in Dubai. Later, the event manager gave an estimate of US $ 250000 for the wedding. As per the provisions of FEMA, for how much remittance does he need to take prior approval of the Reserve bank of India.
He does not need any prior approval at all
For US $ 210000
For US $ 250000
For US $ 15000