NRIs, Foreigners Not Allowed To Carry Rupee Outside India


NRIs, Foreigners Not Allowed To Carry Rupee Outside India

Bangalore: The recent norm announced by Reserve Bank Of India (RBI) may carry a wave of worry for the Non-Resident Indians (NRI) and foreigners. According to the new directive, NRIs and foreigners will not be allowed to carry any Indian rupees with them while going back to the countries they come from, reports The Times Of India.

Most of the times the NRIs and foreigners take along with them some amount in Indian currency so that they don’t have to exchange the foreign currency into Indian currency the next time they  visit India. But, from now on they would be allowed to carry Indian rupees with them only till the duty-free shopping and security checking areas in departure hall in International airports. The amount that is allowed in these areas is about 10,000.

This rule however, is not new and has been in place for some time now under Foreign Exchange Management Act (FEMA) but now the central bank is trying to implement it. The RBI has also asked forex changers to provide few additional gates for foreign exchange beyond the immigration desks that would help foreigners and NRIs to exchange rupee for other currencies before entering the airport.

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