Foreign Exchange Management (Export and Import of Currency) (Amendment) Regulations, 2025
The Reserve Bank of India (RBI) has issued the Foreign Exchange Management (Export and Import of Currency) (Amendment) Regulations, 2025, amending the 2015 regulations. These amendments, effective from their publication in the Official Gazette, revise Regulation 8 concerning cross-border currency movement between India and Nepal or Bhutan. Under the new rules, individuals—except citizens of Pakistan and Bangladesh—may carry Indian currency notes of denominations above ₹100 up to ₹25,000 when traveling to or from Nepal or Bhutan. Lower denomination notes are unrestricted. Additionally, individuals may also transport Nepalese or Bhutanese currency to and from India without specific limits. These changes clarify permissible currency transfers, enhance compliance with foreign exchange regulations, and maintain security against unregulated currency flows. The amendment aligns with prior modifications to the principal regulations in 2019 and 2020, consolidating rules on currency movement while accommodating practical travel and trade requirements between India and its neighboring countries.
RESERVE BANK OF INDIA
(Foreign Exchange Department)
(Central Office)
Mumbai – 400001
Notification No. FEMA 6 (R)/(4)/2025-RB| Dated: November 28, 2025
Foreign Exchange Management (Export and Import of Currency) (Amendment) Regulations, 2025
In exercise of the powers conferred by clause (ga) of sub- section (2) of Section 47 of the Foreign Exchange Management Act, 1999 (42 of 1999), the Reserve Bank of India makes the following amendments to the Foreign Exchange Management (Export and Import of Currency) Regulations, 2015 (Notification No. FEMA 6 (R)/RB-2015 dated December 29, 2015) (hereinafter referred to as ‘the Principal Regulations’), namely: —
1. Short title & Commencement:
i. These Regulations may be called the Foreign Exchange Management (Export and Import of Currency) (Amendment) Regulations, 2025.
ii. They shall come into force from the date of their publication in the Official Gazette.
2. Amendment to Regulation 8
In the Principal Regulations, for Regulation 8, the following shall be substituted, namely:
Notwithstanding anything contained in these regulations, a person –
1. not being a citizen of Pakistan or Bangladesh, may take or send out of India to Nepal or Bhutan, currency notes of Government of India and Reserve Bank of India notes (other than notes of denominations of above ₹100 in either case); provided that an individual travelling from India to Nepal or Bhutan can carry notes of denominations of above ₹100 up to a total limit of ₹25,000;
2. not being a citizen of Pakistan or Bangladesh, may bring into India from Nepal or Bhutan, currency notes of Government of India and Reserve Bank of India notes (other than notes of denominations of above ₹100 in either case); provided that an individual travelling to India from Nepal or Bhutan can carry notes of denominations of above ₹100, up to a total limit of ₹25,000;
3. may take out of India to Nepal or Bhutan, or bring into India from Nepal or Bhutan, currency notes being the currency of Nepal or Bhutan.
(N Senthil Kumar)
Chief General Manager
Note:
The Principal Regulations were published in the Official Gazette vide GSR No.1004(E) dated December 29, 2015 in Part II, Section 3, sub-section (i) and subsequently amended vide:
i. G.S.R. No. 151(E) dated 26.02.2019
ii. No. FEMA 6 (R)/(2)/2020-RB dated 11.08.2020 (published in the Gazette on 18.08.2020)
iii. No. FEMA 6 (R)/(3)/2020-RB dated 03.12.2020 (published in the Gazette on 04.12.2020)
