Q 1. How
much Indian currency can be brought in while coming into India?
Ans. A resident of India, who has gone out of
India on a temporary visit may bring into India at the time of his return from
any place outside India (other than Nepal and Bhutan), currency notes of
Government of India and Reserve Bank of India notes up to an amount not
exceeding Rs.25,000. A person may bring into India from Nepal or Bhutan,
currency notes of Government of India and Reserve Bank of India notes, in
denomination not exceeding Rs.100. Any person resident outside India, not being
a citizen of Pakistan and Bangladesh and also not a traveller coming from and
going to Pakistan and Bangladesh, and visiting India may bring into India
currency notes of Government of India and Reserve Bank of India notes up to an
amount not exceeding Rs. 25,000 while entering only through an airport.
Any person resident in India who
had gone to Pakistan and/or Bangladesh on a temporary visit, may bring into
India at the time of his return, currency notes of Government of India and
Reserve Bank of India notes up to an amount not exceeding Rs. 10,000 per
person.
Q. 2. How
much foreign exchange can be brought in while visiting India?
Ans. A person coming into India from abroad can
bring with him foreign exchange without any limit. However, if the aggregate
value of the foreign exchange in the form of currency notes, bank notes or
travellers cheques brought in exceeds USD 10,000 or its equivalent and/or the
value of foreign currency alone exceeds USD 5,000 or its equivalent, it should
be declared to the Customs Authorities at the Airport in the Currency
Declaration Form (CDF), on arrival in India.
Q.3. How
many days in advance one can buy foreign exchange for travel abroad?
Ans. Permissible foreign exchange can be drawn 60
days in advance. In case it is not possible to use the foreign exchange within
the period of 60 days, it should be immediately surrendered to an authorised
person. However, residents are free to retain foreign exchange up to USD 2,000,
in the form of foreign currency notes or TCs for future use or credit to their
Resident Foreign Currency (Domestic) [RFC (Domestic)] Accounts.
Q.4. Can
one pay by cash full rupee equivalent of foreign exchange being purchased for
travel abroad?
Ans. Foreign exchange for travel abroad can be
purchased from an authorized person against rupee payment in cash below
Rs.50,000/-. However, if the sale of foreign exchange is for the amount
equivalent to Rs 50,000/- and above, the entire payment should be made by way
of a crossed cheque/ banker’s cheque/ pay order/ demand draft/ debit card /
credit card / prepaid card only.
Q.5. Is
there any time-frame for a traveller who has returned to India to surrender
foreign exchange?
Ans. On return from a foreign trip, travellers are
required to surrender unspent foreign exchange held in the form of currency
notes and travellers cheques within 180 days of return. However, they are free
to retain foreign exchange up to USD 2,000, in the form of foreign currency
notes or TCs for future use or credit to their Resident Foreign Currency
(Domestic) [RFC (Domestic)] Accounts.
Q.6.
Should foreign coins be surrendered to an Authorised Dealer on return from
abroad?
Ans. The residents can hold foreign coins without
any limit.
