RBI/2013-14/259
A.P. (DIR Series) Circular No. 45
September 16, 2013
To,
All Authorised Persons in Foreign Exchange
Madam/ Dear Sir,
Memorandum of Instructions governing money changing activities –
Location of Forex Counters in International Airports in India
Attention of Authorised Persons is invited to Para 2 (b) of the
A.P.(DIR Series)
Circular No. 38 dated October 25, 2011.
- On a review, it has been decided to allow non-residents to carry Indian
currency upto a maximum of `10,000/- beyond Immigration/Customs desk to the Duty
Free Area/Security Hold Area (SHA) in the departure hall in international
airports in India for meeting miscellaneous expenditures subject to the
condition that non-residents will not be allowed to carry any Indian Rupee
beyond SHA and that they should dispose of Indian currency before boarding the
plane.
- In order to provide money changing facility to non-residents to convert
unspent Indian Rupees with them, Foreign Exchange Counters in the departure
halls in international airports in India may be established in the Duty Free
Area/SHA beyond the Immigration/ Customs desk. Such Foreign Exchange Counters
will however, only buy Indian Rupees from non-residents and sell foreign
currency to them subject to usual terms and conditions. Putting up suitable
display at these counters, reminding the passengers that the area is the last
point for non-residents to possess Indian Rupees (INR) will be the
responsibility of the Airport Authorities.
- Authorised Persons may bring the contents of this circular to the notice of
their constituents concerned.
- The directions contained in this Circular have been issued under Section
10(4) and Section 11(1) of the Foreign Exchange Management Act, 1999 (42 of
1999) and non-compliance with the guidelines would attract penal provisions of
Section 11(3) of the Act, ibid.
Yours faithfully,
(Rudra Narayan Kar)
Chief General Manager-in-Charge