A.
Export and import of Indian currency and currency notes
a)
Any
person resident in India,
i.
may
take outside India (other than to Nepal and Bhutan) currency notes up to Rs.25,000.
ii.
may
take or send outside India (other than to Nepal and Bhutan) commemorative coins
not exceeding two coins each.
iii.
may
bring into India at the time of his return from any place outside India (other
than from Nepal and Bhutan), Indian currency notes up to Rs.25,000.
b)
Any
person resident outside India, not being a citizen of Pakistan or Bangladesh,
and visiting India,
i.
may
take outside India currency notes up to Rs.25,000 per person
ii.
may
bring into India currency up to Rs.25,000 per person
B.
Import of Foreign Exchange into India
A
person,
i.
may
send foreign exchange without limit into India in any form other than currency
notes, bank notes and travelers cheques;
ii.
may
bring foreign exchange into India without limit (other than unissued notes)
subject to the condition that such person makes, a declaration to the Customs
authorities in Currency Declaration Form (CDF) on arrival in India.
iii.
Such
declaration would not be required where the aggregate value of the foreign
exchange in the form of currency notes, bank notes or travelers cheques does
not exceed US$10,000 or its equivalent and/ or the aggregate value of foreign
currency notes brought in by such person does not exceed US$ 5,000 (US Dollars
five thousand) or its equivalent.
C.
Export of Foreign Exchange and Currency Notes
i.
An
authorised person may send out of India foreign currency acquired in normal
course of business,
ii.
any
person may take or send out of India, -
Cheques drawn on foreign currency
account maintained in accordance with FEMA Regulations, 2000;
Foreign exchange
obtained by him by drawal from an authorised; currency in the
safes of vessels or aircrafts which has been brought into India or which has
been taken on board a vessel or aircraft with the permission of the Reserve
Bank;
iii.
any
person may take out of India, -
a.
foreign
exchange possessed by him in accordance with the FEMA, 2000 ;
b.
unspent
foreign exchange brought back by him to India while returning from travel
abroad and retained in accordance with the FEMA Regulations, 2000 ;
iv.
any
non resident may take out of India unspent foreign exchange not exceeding the
amount brought in by him and declared in Currency Declaration Form (CDF).
D.
Export and Import of currency to or from Nepal and
Bhutan
A
person may-
i.
take
or send to Nepal or Bhutan, currency notes (other than Rs.100 notes) up to a
limit of Rs.25,000/- ;
ii.
bring
from Nepal or Bhutan, currency notes (other than notes of denominations of
above Rs.100) ;
iii.
take
to Nepal or Bhutan, or bring from Nepal or Bhutan, currency notes being the
currency of Nepal or Bhutan.
E.
Prohibition on Export of Indian Coins
No
person shall take or send out of India the Indian coins which are covered by
the Antique and Art Treasure Act, 1972.
3.
The
new regulations shall come into force with
effect from December 29, 2015.
Based on RBI Circular dt
04/02/16. Please visit www.rbi.org.in for any further clarification if required….. Poppy
No comments:
Post a Comment