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Govt amends FEMA regulations for currency import & export; permits carrying cash upto Rs 25000/- from India to Nepal & Bhutan
By TII News Service
Feb 26, 2019 , Mumbai

    

GOVERNMENT OF INDIA
RESERVE BANK OF INDIA
FOREIGN EXCHANGE DEPARTMENT
CENTRAL OFFICE
MUMBAI

FEMA NOTIFICATION NO

6(R)/(1)/2019-RB, Dated: February 26, 2019

Foreign Exchange Management (Export and import of Currency) (Amendment) Regulations, 2019

G.S.R. 151(E).- In exercise of the powers conferred by clause (g) of sub-section (3) of Section 6 and Section 47 of the Foreign Exchange Management Act, 1999 (42 of 1999), the Reserve Bank of India hereby makes the following amendments to the Foreign Exchange Management (Export and import of Currency) Regulations, 2015 (Notification No. FEMA 6(R)/RB-2015 dated December 29, 2015) (hereinafter referred to as 'the Principal Regulations'), namely:-

1. Short Title & Commencement:-

(i) These Regulations may be called the Foreign Exchange Management (Export and import of Currency) (Amendment) Regulations, 2019

(ii) They shall come into force from the date of their publication in the Official Gazette.

2. Amendment to Regulation 8

(i) The existing sub-Regulation (1) of Regulation 8 shall be substituted with the following, namely:-

(1) take or send out of India to Nepal or Bhutan, currency notes of Government of India and Reserve Bank of India notes (other than notes of denominations of above Rs.100 in either case), provided that an individual travelling from India to Nepal or Bhutan can carry Reserve Bank of India notes of Mahatma Gandhi (new) Series of denominations Rs. 200/- and/or Rs. 500/- up to a total limit of Rs. 25,000;

(Ajay Kumar Misra)
Chief General Manager-in-Charge

Foot Note: The Principal Regulations were published in the Official Gazette vide G.S.R. No. 1004(E) dated December 29, 2015 in Part II, Section 3, sub-Section (i).

 
 
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