There are no restrictions on
the amount of foreign currency or travellers' cheques a
tourist may bring into India provided he makes a declaration
in the Currency Declaration Form given to him on arrival.
This will enable him not only to exchange the currency brought
in but also to take the unspent currency out of India on
departure. Cash, bank notes and travellers' cheques up to
U.S.$10,000 or equivalent need not be declared at the time
of entry.
Any money in form of travellers'
cheque, draft, bills, cheques, etc. in convertible currencies
which tourists wish to convert into Indian currency should
be exchanged only through authorized money changers and
banks who will issue an encashment certificate. This certificate
is required at the time of re-conversion of any unspent
money into foreign currency. Tourists are warned that changing
money through unauthorized persons is not only illegal but
also an offence under Foreign Exchange Regulations Act 1973.It
also involves the risk of receiving counterfeit currency.