Import of Indian and Foreign Currencies by Post: - CBEC's Customs Manual 2023 - Customs

7. Import of Indian and Foreign Currencies by Post: 7.1 Under the provisions of Foreign Exchange Management Act, 1999 , no person may bring or send into India any foreign exchange or Indian currency except with special or general permission of the RBI. Import of Indian currency notes and coins by post is not permitted. 7.2 To reduce pendency and to avoid delay in clearance of mail articles, Customs may allow import of both Indian and foreign currencies received by residents by post, provided the value does not exceed Rs.5,000/-, subject to the following conditions: (a) Approval is granted by Assistant/ Deputy Commissioner of Customs; (b) A detailed record should be maintained of the exemptions granted; (c) Record of the name and addresses of the remitter and addressee in India should be maintained; and (d) Where a spurt is noticed in the number of covers received over a time, the matter may be reported to the concerned Regional Office of RBI. 7.3 Parcels/packets containing foreign/Indian currency, etc., in excess of Rs.5,000/- shall be Detained and adjudicated on merits and released on the basis of No Objection Certificate from the RBI. [Refer Circular No.16/2002-Cus, dated 5-3-2002 ] 7.4 There is a general permission given to Authorised Dealers to import currency notes from their overseas branches/correspondents for meeting their normal banking requirements. In view of this, no specific clearance is required from RBI for such imports. [Refer Circular No.60/02-Cus, dated 13-9-2002 read with Annexure V to RBl's AD (MA Series) Circular No.11, dated 16-5-2000]