Export and Import of Currency (Amendment) Regulations 2026

Foreign Exchange Management (Export and Import of Currency) (Amendment) Regulations, 2026 – Key Update & CDF Annexure

The Foreign Exchange Management Act, 1999 (FEMA) continues to evolve to streamline foreign exchange compliance in India. In exercise of the powers conferred under clause (ga) of sub-section (2) of Section 47 of FEMA, the Reserve Bank of India (RBI) has issued the Foreign Exchange Management (Export and Import of Currency) (Amendment) Regulations, 2026.

This amendment introduces a formal Currency Declaration Form (CDF) as an Annex to the existing 2015 Regulations.

1. Legal Background
Notification Details: F. No. FEMA 6 (R)/(5)/2026-RB

The amendment modifies the:

Foreign Exchange Management (Export and Import of Currency) Regulations, 2015
(Notification No. FEMA 6 (R)/RB-2015 dated December 29, 2015)
(Hereinafter referred to as “the Principal Regulations”)

These regulations govern the export and import of Indian and foreign currency into and out of India.

2. Short Title & Commencement

(i) Short Title: These Regulations shall be called: Foreign Exchange Management (Export and Import of Currency) (Amendment) Regulations, 2026

(ii) Commencement: They shall come into force from the date of their publication in the Official Gazette.

3. Key Amendment – Insertion of Annex: After the existing regulations in the Principal Regulations, the following Annex has been inserted:

Annex

CURRENCY DECLARATION FORM (CDF)
[See Regulation 6]

Instructions for Passengers

1. This form need not be completed where:
   • The aggregate value of foreign exchange brought in by the passenger in the form of currency notes, bank notes, or travellers’ cheques does not exceed USD 10,000 (or equivalent);
     and/or
   • The value of foreign currency notes does not exceed USD 5,000 (or equivalent).
2. Passengers are advised to produce this form to:
   • A bank authorised to deal in foreign exchange, or
   • A money changer at the time of:
   • Conversion of foreign exchange into Indian Rupees, or
   • Reconversion of Rupees into foreign exchange.
3. Visitors to India should note:
   • If they do not encash the entire foreign exchange declared,
   • They must retain this form,
   • And produce it to Customs at departure,
   • To enable them to take the unutilised balance out of India.
4. Details of travellers’ cheques/currency notes need not be furnished.
5. Foreign tourists are not required to indicate their address.

__________________________________________________________________________________________

(To be Completed by Passenger)

I ________________________________________________

hereby declare that the following foreign exchange is in my possession at the time of my arrival in India:

(Aggregate value only)

Signature _____________________________

Passport No. __________________________

Nationality ____________________________

To be Completed by Customs Officer

This is to certify that the above named person has brought with him foreign exchange as indicated above.

Date ____________ _____________________________

(Stamp and Signature of Customs Officer)

(Space for Endorsement)

Previous Amendments to the Principal Regulations

The Principal Regulations were originally published in the Official Gazette vide GSR No. 1004(E) dated December 29, 2015 (Part II, Section 3, Sub-section (i)).

Subsequent amendments were notified vide:

1. G.S.R. No. 151(E) dated 26.02.2019
2. FEMA 6 (R)/(2)/2020-RB dated 11.08.2020 (published 18.08.2020)
3. FEMA 6 (R)/(3)/2020-RB dated 03.12.2020 (published 04.12.2020)
4. FEMA 6 (R)/(4)/2025-RB dated 28.11.2025 (published 02.12.2025)

Practical Takeaways

• The amendment formalizes the Currency Declaration Form (CDF) under Regulation 6.
• Threshold limits remain clearly defined:
  • USD 10,000 aggregate foreign exchange
  • USD 5,000 in currency notes
• CDF becomes crucial for:
  • Re-conversion,
  • Carrying back unutilised foreign exchange,
  • Avoiding customs disputes at departure.

For professionals advising NRI clients, import-export consultants, and forex compliance teams, this amendment reinforces documentation discipline at the entry stage itself.

Notification: https://egazette.gov.in/(S(fwtos3laut0cjanwg1ublr1m))/ViewPDF.aspx

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