RBI/2013-14/233
A.P. (DIR Series) Circular No. 39
September 6, 2013
To
All Category - I Authorised Dealer Banks
Madam/ Sir,
Export and Import of Currency
Attention of Authorised Persons is invited to Regulation (2) of Foreign Exchange
Management (Export and Import of Currency) (Amendment) Regulations, 2009,
notified vide Notification No. FEMA 195/RB-2009 dated July 7, 2009, in terms of
which, any person resident in India may take outside India or having gone out of
India on a temporary visit, may bring into India (other than to and from Nepal
and Bhutan) currency notes of Government of India and Reserve Bank of India
notes up to an amount not exceeding Rs.7,500 per person.
- As part of providing greater flexibility to the resident individuals
travelling abroad, the existing limit, mentioned above, has been enhanced to Rs.
10,000 per person.
- Accordingly, any person resident in India:
i) may take outside India (other than to Nepal and Bhutan) currency notes of
Government of India and Reserve Bank of India notes up to an amount not
exceeding Rs.10,000 (Rupees ten thousand only) per person; and
ii) who had gone out of India on a temporary visit, may bring into India at the
time of his return from any place outside India (other than from Nepal and
Bhutan), currency notes of Government of India and Reserve Bank of India notes
up to an amount not exceeding Rs.10,000 (Rupees ten thousand only) per person.
- Authorised Persons may bring the contents of this circular to the notice of
their constituents, customers and foreign counter parties concerned.
- Reserve Bank of India has since amended the relevant Regulations vide
Notification No.FEMA.258/2013-RB dated February 15, 2013, notified vide
G.S.R.No.480(E) dated July 12, 2013
- The directions contained in this circular have been issued under sections
10(4) and 11(1) of the Foreign Exchange Management Act, 1999 (42 of 1999) and
are without prejudice to permissions / approvals, if any, required under any
other law.
Yours faithfully,
(Rudra Narayan Kar)
Chief General Manager-in-Charge