Foreign exchange counter location rules mandate purchases only with encashment certificates; non-compliance attracts statutory penalties. Foreign exchange counters at international airports must be sited so that arrival counters are after Customs or, if between Immigration and Customs, they only purchase foreign currency, sell Indian Rupees and issue Encashment Certificates; departure counters must be before the first of Customs or Immigration with appropriate passenger notices. Authorised Dealers and Full Fledged Money Changers not conforming must relocate to comply by the prescribed deadline, and non compliance attracts penal provisions under the Foreign Exchange Management Act.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Foreign exchange counter location rules mandate purchases only with encashment certificates; non-compliance attracts statutory penalties.
Foreign exchange counters at international airports must be sited so that arrival counters are after Customs or, if between Immigration and Customs, they only purchase foreign currency, sell Indian Rupees and issue Encashment Certificates; departure counters must be before the first of Customs or Immigration with appropriate passenger notices. Authorised Dealers and Full Fledged Money Changers not conforming must relocate to comply by the prescribed deadline, and non compliance attracts penal provisions under the Foreign Exchange Management Act.
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