The persons bringing in foreign exchange in the form of foreign currency, bank notes and travellers’ cheques are required to declare them to the customs authorities in Currency Declaration Form, if the aggregate value thereof exceeds US$ 10,000 or its equivalent and/or the value of foreign currency notes exceeds US$ 5,000 or its equivalent. This facility is per individual, including children, major or minor.
Tourists, while leaving India, are allowed to take with them foreign currency not exceeding an amount brought in by them at the time of their arrival in India. As no declaration is required to be made for bringing in foreign exchange or currency notes up to equivalent of US$ 10,000, generally they can take with them at the time of their departure foreign exchange and currency notes not exceeding this limit.
For more information, please visit Reserve bank of India website http://www.rbi.org.in/