Export and Import of Indian Currency
1 Attention all Authorised Persons is invited to Regulation 8 of Foreign Exchange Management (Export and import of currency) Regulations, 2015, in terms of which a person may take or send out of India to Nepal or Bhutan and bring into India from Nepal or Bhutan, currency notes of Government of India and Reserve Bank of India for any amount in denominations up to 100/-. Further, an individual may carry to Nepal or Bhutan, currency notes of Reserve Bank of India denominations above 100/-, i.e. currency notes of 500/- and/or 1000/- denominations, subject to a limit of ₹25,000/-.
2. It has now been decided that an individual travelling from India to Nepal or Bhutan may carry Reserve Bank of India currency notes in Mahatma Gandhi (New) Series of denominations 200/- and/or 500/- subject to a total limit of 25,000/- Instructions regarding currency notes of Government of India and Reserve Bank of India for any amount in denominations up to 100/- shall continue as hitherto.
3. Authorised Persons may bring the contents of this circular to the notice of their constituents and customers.
4. The directions have been issued under sections 10(4) and 11(1) of the Foreign Exchange Management Act, 1999 (42 of 1999) and are without prejudice to permissions / approvals, if any, required under any other law.
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