Only This Much Money Is Allowed To Be Taken Abroad From India. There Is A Rule
How Much Money Can You Take Abroad From India: Cases of gold smuggling are increasing day by day. Recently, news has come to light that a famous Kannada actress has been caught in this case. After this, many people have questions in their minds – how much gold can be brought into India from abroad and what are the rules for taking gold and cash from India to abroad? If you are traveling by air and are thinking of taking gold or cash, then you need to know these rules. According to the Liberated Remittance Scheme of the Reserve Bank of India, Indian travelers are allowed to carry only Rs 1.89 crore.
How much foreign currency can you carry with you?
Except for some countries like Nepal and Bhutan, travelers going on a trip to almost all countries are allowed to carry up to $3000 in foreign currency on each trip. If you want to carry more than this amount, then that amount can be taken in the form of store value cards, travel cheques, and bankers’ drafts.
How much foreign currency can an Indian traveller bring with them while returning from a foreign trip?
If an Indian traveller has gone on a temporary visit to any country except Nepal and Bhutan, they can bring back Indian currency while returning to India. But keep in mind that this amount should not exceed 25 thousand. If we talk about Nepal and Bhutan, then no person can carry currency notes of the Government of India and Reserve Bank of India notes of a denomination more than Rs. 100 while returning from there.
How much foreign currency can a foreigner bring into India for a visit?
A person coming to India from abroad can bring foreign currency with them without any limit. But if the value of foreign currency brought along in the form of currency notes, bank notes, and traveler’s cheques is more than $10,000, then some action can be taken at the airport. They must declare it before the customs officers at the airport on arrival in India in the Currency Declaration Form (CDF).
Can I pay in Rupees for foreign currency purchased for travelling abroad?
To travel abroad, you can buy goods for less than Rs 50,000 by paying cash in rupees. But if the amount of foreign currency is more than Rs 50,000, then the full payment can be made through a crossed cheque, a bankers cheque, a pay order, a credit card, debit card, or pre-paid card.
Is there any limit on repatriating foreign currency for a passenger returning to India?
Yes, there is a rule for travelers to return currency notes and cheques on returning from a foreign trip. Generally, foreign currency should be returned within 180 days from the date of return. However, travelers can keep foreign currency up to US$ $ 2000 in the form of cheques for further use.
How many days before travelling abroad should one take foreign currency?
You should convert your money into foreign currency only 60 days or about 2 months before the trip. You can get this done from a money exchanger, bank, or airport. Experts say that it is better if you get this done from a money exchanger or bank, because if you get it done from the airport later, it will be only 3-4 percent more expensive than the market.
Can I shop abroad using a credit card?
If you are one of those who spend money freely, then you should use an international credit card. When you make a payment with this, you will have to pay Rs 90-150 as a transaction fee every time, along with a conversion charge. Whereas making a cash payment is much cheaper.
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