Travel abroad with ` 25K
Through this RBI aims to facilitate travel requirements of Indians and foreigners travelling abroad from India.
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.