RBI/2013-14/648
A .P. (DIR Series) Circular No.146
June 19, 2014
To
All Authorised Persons
Madam/ Sir,
Export and Import of Currency: Enhanced facilities for residents and
non-residents
Attention of Authorised Persons is invited to Regulation (3) of Foreign
Exchange Management (Export and Import of Currency) (Amendment) Regulations,
2009, notified vide
Notification No.FEMA.258/2013-RB dated February 15, 2013 and
A.P. (DIR Series) Circular No. No. 39 dated September 6, 2013, 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.10,000 (Rupees Ten Thousand only).
2. In view of the evolving economic conditions and with a view to
facilitating travel requirements of residents travelling aboard as well as
non-residents visiting India, it has been decided to allow all residents and
non-residents (except citizens of Pakistan and Bangladesh and also other
travellers coming from and going to Pakistan and Bangladesh) to take out Indian
currency notes up to Rs. 25,000 while leaving the country. An announcement to
this effect was made in the Second Bi-Monthly Monetary Policy Statement, 2014-15
released on June 3, 2014.
3. 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.25,000 (Rupees twenty five thousand only); 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.25,000 (Rupees twenty five thousand only).
4. Any person resident outside India, not being a citizen of Pakistan and
Bangladesh and also not a traveller coming from and going to Pakistan and
Bangladesh, and visiting India:
i) may take outside India currency notes of Government of India and Reserve Bank
of India notes up to an amount not exceeding Rs. 25,000 (Rupees twenty five
thousand only) while exiting only through an airport.
ii) may bring into India currency notes of Government of India and Reserve Bank
of India notes up to an amount not exceeding Rs. 25,000 (Rupees twenty five
thousand only) while entering only through an airport.
5. Authorised Persons may bring the contents of this circular to the notice of
their constituents, customers and foreign counter parties concerned.
6. Necessary amendments [No. FEMA. 309/2014-RB dated June 4, 2014] to Foreign
Exchange Management (Export and Import of Currency) Regulations 2000
(Notification No.FEMA.6/2000-RB dated May 3, 2000) have been notified in the
Official Gazette vide G.S.R. Nos. 399(E) dated June 12, 2014, a copy of which is
annexed.
7. 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,
(C D Srinivasan)
Chief General Manager