Dubai, July 11: Many non-resident Indians and Indian tourists faced arrest at different airports, of late, for reportedly carrying huge amount of cash. Earlier this month, a man heading to Dubai was arrested at Mumbai airport after Customs officials found over Dh1.42 million (cash) in his bag.
According to information available on the central bank – Reserve Bank of India – website, travellers coming to the UAE and travelling to most of the other countries are allowed to purchase foreign currency only up to $3,000 (Dh11,000) per visit. The regulator allows NRIs to carry more amounts in the form of store value cards, travellers' cheques or banker's drafts.
However, travellers going to Iraq and Libya can carry foreign exchange up to $5,000 or its equivalent per visit. While people flying to Iran, Russia, Commonwealth of Independent States can draw foreign exchange up to $250,000 in the form of foreign currency notes or coins, according to the statement on the apex bank website. Meanwhile, Indian nationals going for Haj and Umrah can also carry $250,000 in cash.
While travelling to India
According to RBI, a resident of India, who has gone out of the country on a visit, may bring in Indian currency notes of up to an amount not exceeding Rs25,000. However, people from Nepal or Bhutan can bring rupee notes in denominations not exceeding 100 rupees.
Meanwhile, a person going into India for a visit from abroad can carry foreign exchange without limit.
"However, if the aggregate value of the foreign exchange in the form of currency notes, bank notes or travellers' cheques brought in exceeds $10,000 or it is equivalent and/or the value of foreign currency alone exceeds $5,000 or its equivalent, it should be declared to the Customs Authorities at the Airport in the Currency Declaration Form (CDF), on arrival in India," according to RBI.