According to a circular, the central bank indicated that both residents and non-residents can now utilize forex counters located within the duty-free or security hold areas beyond immigration and customs checkpoints at international airports.
These counters are generally found in departure lounges after security clearance.
This decision comes after a review of the existing guidelines under the RBI’s framework governing money-changing activities. The amended regulation updates the Master Direction on Money Changing Activities to officially allow these transactions in post-immigration areas.
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Previously, the establishment and functioning of forex counters in these restricted airport zones were more limited, especially for resident travelers. With the updated guidelines, authorized money changers operating at airports can now provide rupee exchange services to a broader range of travelers during the final stage before departure.
The RBI has instructed all authorized personnel to inform their customers and stakeholders about this change.
The guidelines have been issued under the provisions of the Foreign Exchange Management Act, 1999 (FEMA), which regulates foreign exchange transactions in India.
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