Foreign Exchange Management (Export and Import of Currency) Regulations, 2015

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ereto. 2. Synopsis of the new regulations is given as under: A. Export and import of Indian currency and currency notes a) Any person resident in India, • may take outside India (other than to Nepal and Bhutan) currency notes of Government of India and Reserve Bank of India notes up to an amount not exceeding Rs. 25,000 (Rupees Twenty Five Thousand only) per person. • may take or send outside India (other than to Nepal and Bhutan) commemorative coins not exceeding two coins each. Explanation: 'Commemorative Coin' includes coin issued by Government of India Mint to commemorate any specific occasion or event and expressed in Indian currency. who had gone out of India on a temporary visit, m....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ivalent and/ or the aggregate value of foreign currency notes brought in by such person at any one time does not exceed US$ 5,000 (US Dollars five thousand) or its equivalent. C. Export of Foreign Exchange and Currency Notes • An authorised person may send out of India foreign currency acquired in normal course of business, • any person may take or send out of India, - • Cheques drawn on foreign currency account maintained in accordance with Foreign Exchange Management (Foreign Currency Accounts by a person resident in India) Regulations, 2000; • foreign exchange obtained by him by drawal from an authorised person in accordance with the provisions of the Act or the rules or regulations ....