SRINAGAR: The Reserve Bank of India (RBI) has permitted resident travellers to exchange Indian Rupee notes at foreign exchange counters located in the departure areas of international airports.
In a notification issued in Mumbai, the RBI said the decision follows a review of the existing framework governing money-changing activities at airports. The facility, which was earlier available only to non-residents, has now been extended to residents as well.
Under the revised guidelines, travellers can exchange Indian currency at forex counters set up in Duty-Free Areas or Security Hold Areas beyond Immigration or Customs checkpoints.
The central bank also stated that the Master Direction on Money Changing Activities has been amended to incorporate this change.
