Exchange facility for foreign citizens: limited weekly conversion to Indian currency with passport and self-declaration requirements. Foreign passport holders may exchange foreign currency for Indian currency notes up to a prescribed weekly cap subject to submission of a self-declaration that the facility has not been used that week; the Authorized Person must record passport details, retain the declaration, ensure the weekly cap is not exceeded, and inform constituents. Existing instructions on issuance of prepaid instruments by Authorised Dealer Category I banks continue; directions are issued under FEMA and do not affect other statutory permissions.
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Provisions expressly mentioned in the judgment/order text.
Exchange facility for foreign citizens: limited weekly conversion to Indian currency with passport and self-declaration requirements.
Foreign passport holders may exchange foreign currency for Indian currency notes up to a prescribed weekly cap subject to submission of a self-declaration that the facility has not been used that week; the Authorized Person must record passport details, retain the declaration, ensure the weekly cap is not exceeded, and inform constituents. Existing instructions on issuance of prepaid instruments by Authorised Dealer Category I banks continue; directions are issued under FEMA and do not affect other statutory permissions.
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