How Much Indian Currency Can NRIs and Resident Indians Carry To and Out of India?
How much Indian currency can you carry to India overseas in 2017?
If you have been looking for answers to this question, you have come to the right place!
With technological advancements, things are much better than they used to be in our parents’ time.
And even our time a few years ago!
Sending money to your loved ones in India is just a few clicks away and the funds reach your Indian account in a few days (or hours depending on the service you use!).
If you plan to travel to India, to get access to Indian currency you can simply use one of the recommended ways to get good rates.
Indian is still majorly a cash economy and not all shops/vendors accept cards.
You can opt to withdraw Indian rupees at the airport but what if you cannot find an ATM in need?
And if the cash machine is out of use? Or, there’s a big queue at the ATM?
Imagine queuing up for an hour with your luggage!
In such situations, it is a good practice to carry some cash when travelling to India. This would help in paying your cab driver, paying for food or anything important.
How much Indian currency can you take into India?
In this article, that’s exactly what I am going to answer based on the research I did for my recent trip to India…
…the rules and regulations around taking Rupees into India 2017.
I was looking for a simple answer to the question: As an NRI, how much cash in Indian rupees can I take to India from the UK?
And while I was at it, I also wanted to find out the exact requirements about how much currency in Indian Rupees can I take out!
Every country has different rules about how much currency can you bring in or take out when you travel abroad.
The Indian Rupee is a closed currency and the rules around how much currency you can carry to and out of India is a bit confusing.
Not after you read this guide! 😀
Although I have written this guide based on rules when travelling from the UK to India, the same rules apply when travelling from US, Canada, Australia and other countries (except Nepal, Bhutan, Pakistan).
Import/export of Indian currency comes under Sections 10(4) and 11(1) of the Foreign Exchange Management Act, 1999.
The rules set by the Reserve Bank of India are based on your residency status – whether you are a resident Indian or an NRI.
I personally don’t prefer carrying wads of cash with me – I carry around ₹5-10k in cash (which is enough for immediate needs when you land in India – buy food/drinks, pay for taxi etc.) and the rest, I wire transfer to my Indian account online.
Check out the best UK to India money transfer deals!
I wouldn’t imagine you carrying a huge amount with you in cash to India either.
The reason is: the export of Indian currency in the first place is limited to 25,000 INR (without the need of declaration).
So, unless you have accumulated INR on your trips to India, you shouldn’t have more than 25k with you anyways.
This post is to understand the exact rules around how much Indian currency you can carry to India from UK (and anywhere) without having to declare.
Also, we will look into the rules around how many Rupees you can carry out of India.
Let’s jump right in.
How much Indian Rupees can I carry to India?
Resident Indians who travelled abroad for a temporary period, and NRIs returning home from a foreign visit, can carry up to Rs 25,000 per person when travelling to India (source) without any need of declaration.
Any amount in excess of Rs. 25,000 needs to be declared.
Some online sources are outdated and quote this limit as Rs.7,500 or Rs. 10,000 – that limit is as per the old rules. The new rules updated on 04 Feb 2016 now allow you to carry Rs 25,000 to India.
Here is a snippet of the latest RBI notification:
Any person resident in India…who had gone out of India on a temporary visit, may bring into India at the time of his return from any place outside India (other than from Nepal and Bhutan), currency notes of Government of India and Reserve Bank of India notes up to an amount not exceeding Rs.25,000 (Rupees Twenty Five Thousand) per person.
Any person resident outside India, not being a citizen of Pakistan or Bangladesh, and visiting India…may bring into India currency notes of Government of India and Reserve Bank of India notes up to an amount not exceeding 25,000 INR (Rupees Twenty Five Thousand) per person
How much Indian Rupees can I take out of India?
Whether you are an NRI travelling back to overseas or a resident Indian going abroad for a temporary period (which means your status stays ‘resident Indian’), the amount of money you can carry with you is ₹25000.
Export of Indian currency is prohibited for foreign nationals.
Check below a snippet of the RBI notification on import/export rules of Indian currency:
Any person resident in India…may take outside India (other than to Nepal and Bhutan) currency notes of Government of India and Reserve Bank of India notes up to an amount not exceeding Rs.25,000 (Rupees Twenty Five Thousand only) per person.
Any person resident outside India, not being a citizen of Pakistan or Bangladesh, and visiting India…may bring into India currency notes of Government of India and Reserve Bank of India notes up to an amount not exceeding Rs.25,000 (Rupees Twenty Five Thousand only) per person
Disclaimer: The information in this article is based on the research I did online for my recent visit to India and cannot be taken as professional advice. The latest RBI circular for Foreign Exchange Management (Export and Import of Currency) Regulations, 2015 dated 04 Feb 2016 is available here for your reference online.
Conclusion – Indian currency Import/Export Rules
To sum up…
The limit of Indian currency that you can carry into and out of India without declaration is Rs. 25000.
I hope with this quick post, you now have a better understanding of how much Indian currency you can take to India.
I also covered detailed informatiob about how much Indian Rupees can you carry out of India.
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