RBI enhances limit of Indian Currency for Resident Individual travelling abroad from Rs. 7,5000 to Rs. 10,000
The amount has been enhanced to Rs 10,000 a person compared with Rs 7,500 earlier
In a bid to provide greater flexibility to resident individuals travelling abroad and to attract more foreign exchange inflows in India, the Reserve Bank of India (RBI) on Friday enhanced the limit of Indian rupees any person residing in India can take outside the country or a person who has gone out of India on a temporary visit can bring into India.
The amount has been enhanced to Rs 10,000 a person compared with Rs 7,500 earlier.
"Any person resident in India might take outside India (other than to Nepal and Bhutan) currency notes of government and RBI notes up to an amount not exceeding Rs 10,000 a person and who had gone out of India on a temporary visit, might bring into India at the time of his return from any place outside India (other than from Nepal and Bhutan), currency notes of government and RBI notes up to an amount not exceeding Rs 10,000 a person," said RBI in a notification on Friday.
The amount has been enhanced to Rs 10,000 a person compared with Rs 7,500 earlier.
"Any person resident in India might take outside India (other than to Nepal and Bhutan) currency notes of government and RBI notes up to an amount not exceeding Rs 10,000 a person and who had gone out of India on a temporary visit, might bring into India at the time of his return from any place outside India (other than from Nepal and Bhutan), currency notes of government and RBI notes up to an amount not exceeding Rs 10,000 a person," said RBI in a notification on Friday.
The related RBI Circular is given below
Best Regards
Prakash Nair
Certified Personal Financial Advisor(CPFA)
Indian Currency limit for Resident individuals travelling abroad
RBI/2013-14/233
A.P. (DIR Series) Circular No. 39
A.P. (DIR Series) Circular No. 39
September 6, 2013
To
All Category – I Authorised Dealer Banks
Madam/ Sir,
Export and Import of Currency
Attention of Authorised Persons is invited to Regulation (2) of Foreign Exchange Management (Export and Import of Currency) (Amendment) Regulations, 2009, notified vide Notification No. FEMA 195/RB-2009 dated July 7, 2009, 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.7,500 per person.
2. As part of providing greater flexibility to the resident individuals travelling abroad, the existing limit, mentioned above, has been enhanced to Rs. 10,000 per person.
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.10,000 (Rupees ten thousandonly) per person; 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.10,000 (Rupees ten thousandonly) per person.
4. Authorised Persons may bring the contents of this circular to the notice of their constituents, customers and foreign counter parties concerned.
5. Reserve Bank of India has since amended the relevant Regulations vide Notification No.FEMA.258/2013-RB dated February 15, 2013, notified vide G.S.R.No.480(E) dated July 12, 2013
5. The directions contained in this circular have been issued under sections 10(4) and 11(1) of theForeign Exchange Management Act, 1999 (42 of 1999) and are without prejudice to permissions / approvals, if any, required under any other law.
Yours faithfully,
(Rudra Narayan Kar)
Chief General Manager-in-Charge
Chief General Manager-in-Charge
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