Can anyone give me a clear answer on this? I'm getting contrasting results from 25,000 INR to 100 INR.
We are flying to Cochin airport from the UK in December. As we're staying for 2 weeks we'd obviously like to have a fair bit of cash handy. Should/can I sort it at this end in the UK and take it out with me, or am I restricted? If so then will I be able to exchange for a decent rate at Cochin airport?
It will be better to change your cash when you will be in India or use ATM.
No need to change all youir cash in the airport.
Better rates in the city but check always before.
Michel
Please refer to the guidelines of the Reserve Bank of India:
https://www.rbi.org.in/scripts/FAQView.aspx?Id=11
The FAQs are fairly clear, and unless there has been some more recent update, the amount of Indian currency you can bring into India is restricted to INR 5000 or less. (point # 18 in the link).
That said, I don't think this is strictly enforced. It is unlikely that you will be searched for cash at the airport as you come in, unless there is something else about your luggage that interests customs officials and in the course of looking through your baggage they discover cash.
What rates are good? It is not easy to make a great deal on buying exchange if you are not in the business, but a simple way around is to check for the GBP to INR rate online and not fall for something ridiculously off the online rate. Most banks will exchange foreign currency, and there are many money exchange 'shops' in all cities. The latter usually offer a better rate. Among banks, non-Indian banks will probably offer a better rate.
Best to get about 75 GBP worth of INR before you get into India, and then exchange more cash in Cochin. It is a tourist friendly place, and there are plenty of places where you can legally exchange your money for INR at reasonable rates - but do compare rates before you exchange large amounts.
And no one will check whether or not you have a few thousand rupees.
And use ATMs. They are everywhere.
The rules were confusing.
However, the following seems to be latest word on this, from RBI, and it seems to be fairly clearly articulated:
https://rbidocs.rbi.org.in/rdocs/notification/PDFs/CR3105F871DDFD343407BA1BC640B96AFB21A.PDF
To quote:
b) Any person resident outside India, not being a citizen of Pakistan or
Bangladesh, and visiting India,
i. may take outside India currency notes of Government of India and Reserve
Bank of India notes up to an amount not exceeding Rs.25,000 (Rupees
Twenty Five Thousand only) per person
ii. may bring into India currency notes of Government of India and Reserve
Bank of India notes up to an amount not exceeding Rs.25,000 (Rupees
Twenty Five Thousand only) per person
Thanks for looking it up. Was sure I'd heard it was 25k, but of course was too lazy to look it up. Over the past years, I've always had at least 5k when leaving and re-entering.
