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RBI increases cash limit for foreign travel
NEW DELHI, MAY 5 (IANS)
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Published on 6 May. 2010 12:00 AM IST
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People travelling abroad can now carry foreign exchange up to $3,000 or its equivalent amount in other currencies without the Reserve Bank of India’s consent. In a circular, the RBI said it has increased the cash limit for foreign travel from $2,000 to $3,000 with immediate effect.
“The existing limit have been reviewed and it has been decided to increase this ceiling, with immediate effect,” it said. This ceiling was last reviewed in November 2001. However, for an amount of more than $3,000, the travellers will have to seek the central bank’s permission. The RBI also said these provisions would not apply to those travelling to Iraq, Libya, Iran, Russia and the CIS (former Soviet central Asian republics) countries.
Those travelling to Iraq and Libya would continue to get $5,000, it said, adding that the provisions for travellers to Iran, Russia and CIS countries had not been altered.

 
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