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Export
of Foreign Exchange
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6G.3
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(i) |
Export
of foreign exchange in any form including currency notes or bank notes,
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other
than foreign exchange obtained from an authorised dealer or authorised
money- |
| changer
by the person exporting, is prohibited unless it is covered by a general
or special permission of Reserve Bank. In terms of Reserve Bank Notification
No.FERA 80/89-RB dated 9th August 1989 general permission has been granted
to persons in or resident in India to take out of India foreign currency
or currencies equivalent to U.S.$2000 held by them for personal purposes
(see Note D to paragraph 3E.1). |
(ii) A
person in India but not resident therein will be permitted by Customs to take
out his unspent foreign currency provided (i) the amount being taken out does
not exceed the amount that he had declared to the Customs authorities, in form
CDF, on arrival in India, or (ii) the amount being taken out of India
in foreign exchange is less than the amount specified by the Reserve Bank from
time to time for which a declaration in form CDF is required to be made at the
time of arrival in India to the Customs authorities.
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(iii) |
Authorised
dealers may sell foreign currency notes and coins to travellers |
| proceeding
abroad only in conformity with the provisions of Chapter 3 of the Manual.
Foreign currency notes/coins thus acquired will be allowed by Customs
to be taken out of India on the strength of the relative endorsement
made by an authorised dealer in the traveller's passport. |
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