I have taken 25 Lac loan in UAE country and remitted this money to my mother SB account through Exchange. She withdrawn that money and used for personal commitments and bought one property. Now due to some personal problem I wanted to comeback to India, So I have to return the complete 25 Lac to bank in UAE. I have paid 5 Lac (in last 6 months), the rest 20 Lac I have to pay. I have below questions :
- How do I get my money from India to UAE account – what are the options, can I do bank transfer from my mom SB account to my international account.
- If yes how much do I loose in case of 20 lac due to currency conversion and commission (approximate)
- I googled the the same and found that a. Through Hawala – but it’s too risky b. can exchange with Friends in UAE and depsoit the same in INR to their SB account in india. – is there any risk involved for any of us.
I just worried, trying to see how do I minimize my loss.