Authorised dealers and their exchange bureaux may sell foreign currency against Indian rupees held by persons who are not residents of India but are passing through or leaving India after a visit, at the time of their departure from India, provided a bank/encashment certificate issued on the prescribed form by an authorised dealer, exchange bureau or authorised money-changer (in form BCI, ECF or ECR, as the case may be) is produced to show that the rupee had been acquired by sale of foreign exchange to an authorised dealer or money-changer in India and the certificate is valid for such reconversion i.e. a period of three months is not over from the date of sale of the foreign currency by the traveller. Where encashment certificates issued by restricted money-changers in form ECR are produced, care must be taken to see that the sale of foreign currency is restricted to the amount indicated at item C of the certificate. All such sales should be endorsed on the appropriate page of the travellers passport under the stamp and signature of authorised dealer/exchange bureau. Certificates tendered by the travellers should be retained by authorised dealer/exchange bureaux for record and production to Reserve Bank during inspection.

NOTE: Exchange bureaux of authorised dealers operating at airports/seaports may convert, at their discretion, unspent Indian currency in the possession of persons who are not residents of India, but are passing through or leaving India after a visit, if for bona fide reasons, the person is unable to produce encashment certificate, provided the amount to be reconverted does not exceed Rs.10,000/-.