What changed
The earlier limit of Rs 5,000 per person for taking Indian currency notes outside India (or bringing them back on return) has been raised to Rs 7,500 per person. This change was notified via an amendment to FEMA regulations in July 2009 and is now being communicated to authorised persons through this circular.
What it means for you
Banks and authorised dealers must update their internal limits and customer advisories for foreign travel. Travellers now have greater flexibility to carry more Indian cash, which may reduce demand for foreign currency for small expenses abroad. Compliance with the new limit is mandatory, and the Nepal/Bhutan exclusion remains unchanged.
What you must do
- Update internal systems and teller limits to reflect the new Rs 7,500 per person threshold for Indian currency notes.
- Brief branch staff and forex counters on the revised limit for both taking notes abroad and bringing them back.
- Communicate the change to customers and foreign counterparties as directed by the circular.
- Ensure no cash is issued or accepted beyond Rs 7,500 per person for travel outside Nepal and Bhutan.
Who it affects
All authorised persons in foreign exchange (banks, forex dealers), Resident individuals travelling abroad (except to Nepal and Bhutan), Customers returning from temporary visits abroad
Does the Rs 7,500 limit apply to travel to Nepal and Bhutan?
No. The limit applies only to travel outside India other than to and from Nepal and Bhutan. Those countries have separate arrangements.
Can a family of four carry Rs 30,000 in total?
Yes, the limit is per person. Each individual traveller can carry up to Rs 7,500, so a family of four could carry up to Rs 30,000 in total, provided each person holds their own notes.
When did this change take effect?
The government notification (G.S.R.548(E)) was issued on July 24, 2009, and the RBI circular communicating it to authorised persons is dated February 1, 2010. Banks should apply the new limit from the date of the circular.