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Residents, non-residents allowed to carry up to Rs 25k abroad: RBI

PTI 20 Jun 2014, 8:55:08 AM IST
New Delhi: The Reserve Bank of India (RBI) has permitted residents and non-residents, except Pakistanis and Bangladeshis, to carry up to Rs 25,000 in Indian currency notes while leaving the country.

Earlier, Indians travelling abroad were permitted to carry only up to Rs 10,000, while foreigners were not allowed to carry Indian currency while leaving the country.

"...it has been decided to allow all residents and non-residents (except citizens of Pakistan and Bangladesh and also other travellers coming from and going to Pakistan and Bangladesh) to take out Indian currency notes up to Rs 25,000 while leaving the country," RBI said in a notification.

This, RBI said 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 announcement to this effect to allow more currency while travelling abroad had come in RBI's second bi-monthly Monetary Policy Statement on June 3.

As per Foreign Exchange Management (FEMA) Act, a resident can carry to Nepal or Bhutan, Indian currency without any limit in denominations not exceeding Rs 100.