Indian residents were hitherto allowed to take Indian currency notes with value up to INR 10,000 out of the country while non-residents visiting India were not permitted to take out any Indian currency notes while leaving the country. With a view to facilitating travel requirements of non-residents visiting India, it has been decided to allow all residents and non-residents (except citizens of Pakistan and Bangladesh) to carry with them Indian currency notes up to INR 25,000 while leaving the country.
Visitors to India like in the past are, however, allowed to carry with them any amount of Omani Rials or other convertible foreign currencies, which can be exchanged at the authorized exchange centres in India, including at international airports, hotels, etc. However, in case the quantum of foreign currency exceeds the amount equivalent to US$ 5,000 in cash or an overall of US$ 10,000 when combined with other financial instruments like cheques, travellers' cheques, drafts etc., a declaration to the Customs Officers at international airports at the time of arrival or departure, as the case may be, is required to be made.
Note:- For more information on the above, please visit RBI's website at link http://www.rbi.org.in/scripts/BS_PressReleaseDisplay.aspx
June 12, 2014