19th May 2024

How much Indian currency can one carry out of India?

0
India

The Reserve Bank of India, on June 19, 2014, declared that residents and non-residents, except individuals from Pakistan and Bangladesh, would be allowed to carry up to Rs 25,000 when exiting the country. This was a major shift from the earlier limit of Rs 10,000 that was allowed only to residents of India. In 2013, the RBI had issued a directive that prohibited non-resident Indians (NRIs) and foreign nationals from carrying any amount of Indian currency out of the country.

The earlier mandate had been in place for quite some time but the RBI insisted on enforcing it since 2013. NRIs were allowed to carry up to Rs 10,000 beyond the immigration and customs desks till the duty-free shops. However, boarding the plane with Indian currency was strictly prohibited. In order to help out the NRIs and foreign nationals to convert Indian currency to other currencies, foreign-exchange kiosks were set up at several points in the airports.

RBI issued the new mandate in 2014 to facilitate resident and non-resident travelers. The change was brought in to ensure that the travelers would be able to do cover expenses for transportation, food, hotel stay, and purchasing sim cards. This move has been especially beneficial for frequent travelers as they do not have to get their currency exchanged during every visit.

Leave a Reply