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RBI/2014-15/424
A.P. (DIR Series) Circular No.63
January 22, 2015
To
All Authorised Persons
Madam/ Sir,
Export and Import of Indian Currency
Attention of Authorised Persons is invited to Regulation 8 of Foreign
Exchange Management (Export and Import of Currency) Regulations, 2000, in terms
of which, inter-alia, a person may take or send out of India to Nepal or Bhutan
and bring into India from Nepal or Bhutan, currency notes of Government of India
and Reserve Bank of India for any amount in denominations up to Rs.100/-.
2. With a view to mitigating the hardship of individuals visiting from India
to Nepal or Bhutan, it has now been decided that, an individual may carry to
Nepal or Bhutan, currency notes of Reserve Bank of India denominations above
Rs.100/-, i.e. currency notes of Rs.500/- and/or Rs.1000/- denominations,
subject to a limit of Rs.25000/-.
3. Authorised Persons may bring the contents of this circular to the notice of
their constituents and customers.
4. Necessary amendments to Foreign Exchange Management (Export and Import of
Currency) Regulations 2000 (Notification No.FEMA.6/2000-RB dated May 3, 2000)
have been notified as Foreign Exchange Management (Export & Import of Currency)
(Second Amendment) Regulations, 2014 [Notification No. FEMA.331/2014-RB dated
December 16, 2014] in the Official Gazette vide G.S.R. Nos.907(E) dated December
22, 2014, a copy of which is annexed.
5. 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,
(B P Kanungo)
Principal Chief General Manager
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