[Indian Customs Circular] : Regarding Export and Import of Currency

Circular No. 03/2015-Customs

F. No 520/23/2013- Cus. VI

Government of India

Ministry of Finance

Department of Revenue

(Central Board of Excise and Customs)

*****

New Delhi, Dated 16.01.2015

To,

All Chief Commissioners of Customs / Customs (Preventive)

All Chief Commissioners of Customs and Central Excise

All Commissioners of Customs/ customs (Preventive)

All Commissioners of Customs and Central Excise

Sir /Madam,

Subject : Export and Import of Currency –reg

Attention is invited to Regulation (3) of Foreign Exchange Management (Export and Import of Currency) (Amendment) Regulations, 2009, notified vide Notification No.FEMA.258/2013-RB dated February 15, 2013 and A.P. (DIR Series) Circular No. No. 39 dated September 6, 2013 in terms of which, any person resident in India may take outside India or having gone out of India on a temporary visit, may bring into India (other than to and from Nepal and Bhutan) currency notes of Government of India and Reserve Bank of India notes up to an amount not exceeding Rs.10,000.

2. The RBI vide A.P. (DIR series) No. 146, dated 19.06.2014 has now provided that aforementioned limit has been enhanced to Rs 25000/- per person from Rs 10,000/- per person. Thus, any person resident in India:

i) 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); and

ii) who had 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 from 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).

3. Further, vide said A.P. (DIR series) No. 146 dated 19.06.2014, it is also provided that 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:

i) may take outside India 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) while exiting only through an airport.

ii) 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 (Rupees twenty five thousand only) while entering only through an airport.

4. In the light of the amended guidelines of RBI on the subject matter, all Chief Commissioners of Customs/ Customs and Central Excise are requested to ensure that the aforementioned guidelines are scrupulously followed by the officers under their charge. Further, it may be ensured without fail that wide publicity is given to these guidelines by displaying them at prominent places at the airports etc. so that no harassment is caused to the genuine passengers. Officers may also be suitably sensitized in the matter. Any non compliance on the part of the officers will be viewed seriously.

5. Difficulty faced, if any, may be brought to the notice of the Board.

Yours faithfully,

(R.P.Singh)

Director (Customs)