**Executive Summary**
This document is a notification from the Reserve Bank of India, dated November 28, 2025, regarding amendments to the Foreign Exchange Management (Export and Import of Currency) Regulations, 2015. These amendments, titled the Foreign Exchange Management (Export and Import of Currency) (Amendment) Regulations, 2025, become effective upon publication in the Official Gazette, scheduled for December 2, 2025.
**Key Points / Main Content**
* **Short Title and Commencement**
* The regulations are titled "Foreign Exchange Management (Export and Import of Currency) (Amendment) Regulations, 2025."
* The regulations take effect upon publication in the Official Gazette.
* **Amendment to Regulation 8**
* Regulation 8 of the Principal Regulations is substituted with the following provisions:
* Individuals (excluding citizens of Pakistan or Bangladesh) may send or take Indian currency notes (excluding notes of denominations above ₹100) to Nepal or Bhutan. However, travellers can carry denominations above ₹100 up to ₹25,000.
* Individuals (excluding citizens of Pakistan or Bangladesh) may bring Indian currency notes (excluding notes of denominations above ₹100) from Nepal or Bhutan to India. However, travellers can carry denominations above ₹100 up to ₹25,000.
* Individuals may take or bring the currency of Nepal or Bhutan in/out of India.
**Impact Analysis**
**Individuals (excluding citizens of Pakistan or Bangladesh)**
* **Impact:** Revised rules for carrying Indian currency notes to and from Nepal and Bhutan.
* **Action Required:** Adhere to the revised limits for carrying Indian currency notes of denominations above ₹100 when travelling between India, Nepal, and Bhutan.
**Individuals travelling between India, Nepal, and Bhutan**
* **Impact:** New limits for carrying Indian currency notes of denominations above ₹100.
* **Action Required:** Travellers must know about the allowance of carrying denominations above ₹100 up to ₹25,000.
Key Entities Referenced
Foreign Exchange Management Act, 1999: The primary legislation authorizing the regulations being amended.
Foreign Exchange Management (Export and Import of Currency) Regulations, 2015: The regulations being amended by this notification.
Reserve Bank of India: The issuer of the notification and regulator of foreign exchange.
Nepal: One of the countries with special regulations regarding currency export/import.
Bhutan: One of the countries with special regulations regarding currency export/import.
RESERVE BANK OF INDIA
(Foreign Exchange Department)
(Central Office)
Mumbai – 400001
Notification No. FEMA 6 (R)/(4)/2025-RB 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
Published in the Official Gazette of Government of India
Extraordinary Part III, Section 4, dated December 2, 2025
DeDedatedhttps://egazette.gov.in/(S(oy2iplaqcp2jip0cqjf4
2rrj))/ViewPDF.aspx _____________
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)