On 28-11-2025, the Reserve Bank of India (‘RBI’) notified the Foreign Exchange Management (Export and Import of Currency) (Amendment) Regulations, 2025, introducing significant changes concerning the movement of currency between India and its neighbouring countries, Nepal and Bhutan.
This Amendment came into force on 28-11-2025.
Key Takeaways of FEMA Export and Import of Currency Amendment Rules:
-
The Amendment modifies the Foreign Exchange Management (Export and Import of Currency) Regulations, 2015 under the powers granted by Section 47(2)(ga) of Foreign Exchange Management Act, 1999.
-
It revises provisions regarding export and import of Indian currency and currency notes under Regulation 8.
-
The Regulation applies to individuals traveling between India, Nepal, and Bhutan (except citizens of Pakistan or Bangladesh).
-
Individuals are now allowed to carry Indian currency notes to Nepal or Bhutan, excluding denominations above ₹100. But they can carry notes of denominations above ₹100 up to ₹25,000 in total.
-
Similarly, individuals returning from Nepal or Bhutan can bring Indian currency notes, excluding denominations above ₹100, with a total limit of ₹25,000.
-
Travelers are permitted to freely carry currency notes of Nepal or Bhutan in and out of India without restrictions.
-
The modification permits limited higher denomination notes to facilitate regional trade and retains restrictions on citizens of Pakistan and Bangladesh for security and compliance.
-
These guidelines make cross-border travel convenient, enhance trade and tourism between India, Nepal, and Bhutan, and reflect RBI’s commitment to balancing ease of transactions with regulatory oversight under FEMA.