Indian expats in UAE warned about taking rupees home
03:28PM Wed 6 Mar, 2013
Rules suggest expats can carry foreign currency without any limit
Abu Dhabi: The Indian Embassy in the UAE has warned Indian expatriates not to carry Indian currency while travelling to India.
As per Indian rules and regulations, Non-Resident Indians (NRIs) are not allowed to carry Indian currency to India, a top Indian diplomat told Gulf News on Tuesday.
This is because NRIs are not allowed to convert Indian currency into foreign currency in India, M.K. Lokesh, Indian Ambassador to the UAE, said.
The rule prohibiting NRIs carrying Indian currency has been framed based on that rule, he explained.
Now Indian authorities are strictly implementing this rule in the wake of reported cases of fake currency being carried to India from abroad, Lokesh said.
The envoy said some NRIs carrying huge amounts of Indian currency to India faced problems at airports recently.
It is a misconception that NRIs are allowed to carry Indian currency back to India, he said. As per Indian baggage rules, Indian citizens residing in India (not NRIs) can carry up to Rs 7,500 (Dh499) in Indian currency while going back, the envoy said.
Foreigners travelling to India are also allowed to carry the same amount of Indian currency, according to the Reserve Bank of India (RBI) and the Central Board of Excise and Customs (CBEC).
Their rules suggest that any person can bring in foreign exchange to India without any limit.
Declaration of foreign exchange/currency is required to be made in the prescribed Currency Declaration Form if the value of currency notes exceeds $5,000 (Dh18,360) or its equivalent.
GulfNews
Abu Dhabi: The Indian Embassy in the UAE has warned Indian expatriates not to carry Indian currency while travelling to India.
As per Indian rules and regulations, Non-Resident Indians (NRIs) are not allowed to carry Indian currency to India, a top Indian diplomat told Gulf News on Tuesday.
This is because NRIs are not allowed to convert Indian currency into foreign currency in India, M.K. Lokesh, Indian Ambassador to the UAE, said.
The rule prohibiting NRIs carrying Indian currency has been framed based on that rule, he explained.
Now Indian authorities are strictly implementing this rule in the wake of reported cases of fake currency being carried to India from abroad, Lokesh said.
The envoy said some NRIs carrying huge amounts of Indian currency to India faced problems at airports recently.
It is a misconception that NRIs are allowed to carry Indian currency back to India, he said. As per Indian baggage rules, Indian citizens residing in India (not NRIs) can carry up to Rs 7,500 (Dh499) in Indian currency while going back, the envoy said.
Foreigners travelling to India are also allowed to carry the same amount of Indian currency, according to the Reserve Bank of India (RBI) and the Central Board of Excise and Customs (CBEC).
Their rules suggest that any person can bring in foreign exchange to India without any limit.
Declaration of foreign exchange/currency is required to be made in the prescribed Currency Declaration Form if the value of currency notes exceeds $5,000 (Dh18,360) or its equivalent.
GulfNews
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