BANKING AFFAIRS

Detailed explanation-1: -You can bring into India foreign exchange without any limit. If, however, the value of foreign currency in cash exceeds US$ 5, 000 and/or the cash plus TCs exceed US$ 10, 000 it should be declared to the customs authorities at the airport in the currency declaration form (CDF), on arrival in India.

Detailed explanation-2: -Foreign exchange for travel abroad can be purchased from banks against rupee payment in cash up to Rs. 50, 000/-.

Detailed explanation-3: -How much cash can I carry on a domestic flight in India? There is no specific limit on the amount of cash that can be carried on a domestic flight in India, however, you are responsible to provide a valid reason and source (with proof) for carrying cash more than INR 200, 000 (Rupees 2 lakhs).

Detailed explanation-4: -On a solely domestic flight I expect you can carry as much as fits within luggage allowances. It might arouse some suspicion though if you have a suitcase full of cash. There is usually a reporting level. You can carry all you want if you declare it.

Detailed explanation-5: -Unless otherwise stipulated by the Reserve Bank, a person resident in India who has opened and is maintaining a Foreign Currency Account in accordance with the provisions of Regulations 6 and 7, may hold therein foreign exchange without any limit.