The Reserve Bank of India (RBI) has recently notified significant amendments. These changes pertain to the Foreign Exchange Management (Export and Import of Currency) Regulations, 2015. The latest changes are part of the Foreign Exchange Management (Export and Import of Currency) (Amendment) Regulations, 2025. They were published in the Official Gazette on December 2, 2025.
Key Highlights of the Amendment
The amendments revise Regulation 8 of the principal regulations. These regulations govern the rules for carrying currency between India, Nepal, and Bhutan. Here’s what’s new:
- Currency Export from India to Nepal & Bhutan
- Individuals who are not citizens of Pakistan or Bangladesh can carry Indian currency notes to Nepal or Bhutan.
- Notes above ₹100 denomination can now be taken up to a total limit of ₹25,000 by an individual traveler.
- Currency Import into India from Nepal & Bhutan
- Travellers returning to India from Nepal or Bhutan can bring Indian currency notes back. This excludes citizens of Pakistan or Bangladesh.
- Notes of denominations above ₹100 are permitted up to ₹25,000 in total.
- Exchange of Local Currencies
- Travellers may carry currency notes of Nepal or Bhutan. This is allowed when travelling between India and those countries, as permitted earlier.
Background and Context
The RBI periodically updates its notification under the Foreign Exchange Management Act (FEMA), 1999. This is done to align with current travel, financial, and foreign exchange policies. Prior to this amendment, the movement of Indian currency above ₹100 denomination was restricted more tightly.
This update provides greater flexibility for legitimate travellers and trade with the neighbouring nations of Nepal and Bhutan, supporting ease of travel and small cross-border transactions.
The Chief General Manager, N. Senthil Kumar, issued the notification under clause (ga) of sub-section (2) of Section 47 of FEMA, reinforcing the RBI’s role in streamlining foreign exchange regulations.
The amendment builds upon earlier RBI notifications from 2015, 2019, and 2020, and marks the latest step in modernizing currency handling norms under FEMA.
What This Means for Travellers
If you’re planning a trip to Nepal or Bhutan, you can now legally carry up to ₹25,000 in Indian currency (of denominations above ₹100). This is a welcome move for tourists and traders who rely on cash transactions. However, citizens of Pakistan and Bangladesh remain excluded from this relaxation.
All changes take effect from the date of publication in the Official Gazette, i.e., December 2, 2025.
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