In a circular, the central bank said that residents, along with non-residents, can now access forex counters situated in the duty-free or security hold areas beyond immigration and customs checkpoints at international airports.
These counters are typically located in departure halls after security clearance.
The move follows a review of existing guidelines under the RBI’s framework governing money-changing activities. The updated rule amends the Master Direction on Money Changing Activities to formally permit such transactions in post-immigration zones.
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Earlier, the placement and usage of forex counters in these restricted airport areas were more limited, particularly for resident travellers. With the revised norms, authorised money changers operating at airports can offer rupee exchange services to a wider set of travellers at the final stage before departure.
The RBI has asked all authorised persons to notify their customers and stakeholders about the change.
The directions have been issued under the provisions of the Foreign Exchange Management Act, 1999 (FEMA), which governs foreign exchange transactions in India.
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