NRIs ‘not allowed’ to carry Indian currency

The Indian embassy has said foreigners and non-resident Indians (NRIs) are not allowed to carry any Indian currency both while flying out from India or travelling to the South Asian country under the prevailing  law. According to a communique from the embassy yesterday, as per the Indian government regulations only residents of India are allowed to take out Indian currency up to a ceiling of Rs7,500 per passenger while travelling abroad. Similarly only those who are residents of India can take home the Indian currency up to Rs7,500 when returning to the country from outside. It says visitors to India are allowed to carry with them any amount of Qatari riyals or other convertible foreign currencies, which can be changed at authorised money exchanges in India, including at international airports, hotels etc. However, if the amount of foreign currency exceeds the equivalent of $5,000 in cash or an overall $10,000 when combined with other financial instruments like cheques, travellers’ cheques, drafts etc, a declaration is required to be made to the customs officers at international airports, on arrival or departure, it said.