RBI hikes rupee limit for Indians travelling abroad to Rs25,000
20 Jun 2014
The Reserve Bank of India (RBI) has allowed all residents and non-residents (except citizens of Pakistan and Bangladesh and other travellers coming from and going to these two countries) to take out Indian currency notes up to Rs25,000 while leaving the country.
''In view of the evolving economic conditions and with a view to facilitating travel requirements of residents travelling aboard as well as non-residents visiting India, 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 25,000 rupees while leaving the country.''
RBI had made an announcement to this effect in the second bi-monthly monetary policy statement 2014-15 released on 3 June 2014.
Persons resident in India and those who had gone out of India on a temporary visit (other than to and from Nepal and Bhutan) were earlier allowed to bring into India currency notes up to Rs10,000.
As per Foreign Exchange Management (FEMA) Act, a resident can carry to Nepal or Bhutan, Indian currency without any limit in denominations not exceeding Rs100.
RBI said the relaxation has been done in view of the evolving economic conditions and with a view to facilitating travel requirements of residents travelling aboard as well as non-residents visiting India.
