RESERVE BANK OF INDIA
FOREIGN EXCHANGE DEPARTMENT
CENTRAL OFFICE
MUMBAI
Notification No.309/2014-RB
Dated : June 4, 2014
Foreign Exchange Management (Export and Import of Currency)
(Amendment) Regulations, 2014
In exercise of the powers conferred by clause (g) of sub-section (3) of Section
6 and sub section (2) of Section 47 of the Foreign Exchange Management Act, 1999
(42 of 1999), the Reserve Bank of India hereby makes the following amendments in
the Foreign Exchange Management (Export and Import of Currency) Regulations,
2000 (Notification No.FEMA. 6/2000-RB dated May 3, 2000), namely:-
1. Short title and commencement
(a) These Regulations may be called the Foreign Exchange Management (Export and
Import of Currency) (Amendment) Regulations, 2014.
(b) They shall come into effect from the date of their publication in the
Official Gazette.
2. Amendment of the Regulations:
In the Foreign Exchange Management (Export and Import of Currency) Regulations,
2000 (Notification No.FEMA.6/2000-RB dated May 3, 2000), in regulation 3,
(A) in sub-regulation 1,
(i) the existing clause (a) shall be substituted as follows:
“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. 25000 (Rupees Twenty Five Thousand Only) per person or such other
amount and subject to such conditions as notified by Reserve Bank of India from
time to time.”
(ii) the existing clause (c) shall be substituted as follows:
“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) per
person or such other amount and subject to such conditions as notified by
Reserve Bank of India from time to time.”
(B) after sub-regulation (1), the following new sub-regulation, shall be added,
namely:
(1A) Save as otherwise provided in these regulations, any person resident
outside India, not being a citizen of Pakistan or Bangladesh, and visiting
India,
(a) may take outside India currency notes of Government of India and Reserve
Bank of India notes up to an amount not exceeding Rs. 25000 (Rupees Twenty Five
Thousand Only) per person or such other amount and subject to such conditions as
notified by Reserve Bank of India from time to time.
(b) may bring into India currency notes of Government of India and Reserve Bank
of India notes up to an amount not exceeding Rs. 25000 (Rupees Twenty Five
Thousand Only) per person or such other amount and subject to such conditions as
notified by Reserve Bank of India from time to time.
(B P Kanungo)
Principal Chief General Manager
Foot Note:
The Principal Regulations were published in the Official Gazette vide No.
G.S.R. No.389 (E) dated May 5, 2000 in Part II, Section 3, Sub-Section (i) and
subsequently amended vide:
(a) G.S.R.201 (E) dated March 21, 2001
(b) G.S.R.548 (E) dated July 24, 2009
(c ) G.S.R 480 (E) dated July 12, 2013
Published in the Official Gazette of Government of India – Extraordinary
– Part‐II, Section 3, Sub‐Section (i) dated 12.06.2014‐ G.S.R.No.399 (E)