RBI permits residents and non-residents to carry up to Rs. 25,000 in Indian currency notes while leaving the country
Posted on: 21/Jun/2014 10:15:45 AM
Now Indian residents and non-residents, except Pakistanis and Bangladeshis, can carry up to carry up to Rs. 25,000 in Indian currency notes while leaving the country. This is per the directives of the Reserve Bank of India. Earlier, Indians travelling abroad were permitted to carry up to Rs. 10,000 while foreigners were not allowed to carry Indian currency while leaving the country.
This has been done in view of the evolving economic conditions and to facilitate travel requirements of Indians travelling aboard as well as foreigners visiting India, the RBI said.
The announcement to this effect - to allow more currency while travelling abroad - had come in the RBI`s second bimonthly monetary policy statement on June 3.
As per the Foreign Exchange Management (FEMA) Act, a resident can carry to Nepal or Bhutan Indian currency without any limit in denominations not exceeding Rs. 100.
