Display at Airports / LCS about prohibition of import / export of Indian currency notes of denomination of above Rs.100 in India and in Nepal - regarding - Customs - Corrigendum to Circular No.19/2010

Corrigendum to Circular No.19/2010-Customs F.No. 520/23/2010-Cus.VI Government of India Ministry of Finance Department of Revenue Central Board of Excise Customs 159-A, North Block, New Delhi - 110001. Dated 6th August, 2010 . To All Chief Commissioners of Customs All Chief Commissioners of Customs (Prev). All Commissioners of Customs (Airport). All Commissioners of Customs (Port). All Commissioners of Customs Central Excise. Subject: Display at Airports / LCS about prohibition of import / export of Indian currency notes of denomination of above Rs.100 in India and in Nepal - regarding. Sir / Madam, Your kind attention is invited to the Circular No.19/2010-Customs dated 13.7.2010 on the above subject. 2. In partial modification, the Para 1 of the above-mentioned Circular should now be read as under: "As you may be aware, the export and import of currency notes of Government of India and Reserve Bank of India of denominations of above Rs.100 is not allowed to and from Nepal and Bhutan in terms of Notification No. FEMA 6/RB-2000 dated 3.5.2000 issued under Foreign Exchange Management (Export and Import of Currency) Regulations, 2000 by the Reserve Bank of India. Similarly, the Indian currency notes of the denomination of Rs.1000 and Rs.500 are not permissible for exchange for banking transaction in Nepal in terms of guidelines issued by Ministry of Finance, Government of Nepal and Nepal Rashtra Bank. In fact, the current legal provisions in Nepal provide that notes of these denominations are liable for seizure and the persons carrying them are to be fined or imprisoned for upto three years." 3. The other contents of the Circular would remain the same. Yours faithfully, (R.P. Singh) Director (Customs)