Travel abroad with ` 25K

Through this RBI aims to fa­cil­i­tate travel re­quire­ments of In­di­ans and for­eign­ers trav­el­ling abroad from In­dia.

TravTalk - India - - BULLETIN -

The Re­serve Bank (RBI) on Thurs­day per­mit­ted res­i­dents and non-res­i­dents, ex­cept Pak­ista­nis and Bangladesh­is, to carry up to ` 25,000 in In­dian cur­rency notes while leav­ing the coun­try. Ear­lier, In­di­ans trav­el­ling abroad were per­mit­ted to carry up to ` 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 25,000 while leav­ing the coun­try,"

the apex bank said in a no­ti­fi­ca­tion. This 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 RBI said. The an­nounce­ment to this ef­fect - to al­low more cur­rency while trav­el­ling abroad - had come in the RBI's sec­ond bi­monthly mon­e­tary pol­icy state­ment on June 3.

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

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