Mumbai, April 2 The Reserve Bank on Thursday allowed both residents and non-residents to exchange Indian rupee notes at foreign exchange counters in departure halls at international airports, beyond the immigration or customs desk.
Previously, such foreign exchange counters were only allowed to buy Indian rupee from non-residents and sell foreign currency to them.
"Following a review, it has been decided to allow residents (along with non-residents) to exchange Indian rupee notes at foreign exchange counters in the departure halls of international airports located in the duty-free or security hold area, beyond the immigration or customs desk," the Reserve Bank of India (RBI) said in a circular.
The Master Direction on Money Changing Activities is being amended accordingly, it added.
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