In exercise of the powers conferred by Section 13(1) of FERA 1973, Government of India have issued Notification No. F1/1-7/EC/73 dated 1st January 1974 in terms of which no person shall bring into India any Indian currency notes or coins except with the general or special permission of Reserve Bank. Reserve Bank by its Notification No. FERA.81/89-RB dated 9th August 1989 (as amended) has permitted import of Indian currency subject to the conditions as under:
| (a) | From Nepal by any person | Currency notes of Government and Reserve Bank of India notes other than notes of the denominations of above Rs. 100/-)
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| (b) | From other countries | Currency notes of Government of by Indian travellers India and Reserve Bank of India notes up to an amount not exceeding Rs.1000 per resident Indian, provided the amount sought to be brought into India had earlier been taken out while proceeding abroad on a temporary visit.
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NOTE: The above restrictions apply to import of Indian currency notes and coins. There are no restrictions on the import of cheques, drafts, etc. drawn on banks and expressed in Indian rupees.