Forex counters in T3 not in violation of FEMA: RBI

The Customs department had earlier requested that the two foreign exchange counters at the airport,currently placed between the baggage claim area and the Customs clearance zone,be relocated. According to officials,the present location of the forex counters makes it difficult for the department to enforce the cap on currency carried in by people coming to India. Many passengers use the currency exchange facility before crossing the green and red channels of the Customs department,they said.

“The RBI has said that even if the forex counters are positioned before the green and the red channels,they should not be deemed as a violation of FEMA guidelines. They also said that a circular to this effect would be issued shortly,” a Customs official said.

The two forex counters,run by Thomas Cook and Central Bank of India,are positioned immediately after baggage conveyor belts 12 and 10,and just before the green-red channel counters. “Technically and administratively,the positioning of the Forex counters cannot be permitted. This office is of the opinion that the presence of foreign exchange counters in the area between the baggage retrieval area and the Customs counters is in violation of FEMA regulations,” the IGI Customs department had written to the RBI in August last year. Data obtained from the two counters also indicated issuance of Indian currency to non-residents and foreign tourists,who are legally allowed to have less than Rs 7,500 on their person.

“The passengers withdraw Indian currency and walk through the green channel instead of declaring it at the red channel. As per FEMA regulations,non-residents and foreign tourists are not allowed to bring Indian currency into India. The RBI has now given its opinion on the same,and has also indicated that an ATM could be placed before the green channel,” Additional Commissioner of Customs (IGIA) Ashutosh Baranwal told Newsline.

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