I saved 1000 Euros during my internship in France, and brought them back to India in cash. It has been a year since then, and I want to deposit it in my bank account now. I was told by the bank that I should have done it within 6 months of my arrival, and they cannot accept it now.

Can't I officially convert the money to INR anymore?

  • 1
    You can always convert foreign cash at a currency conversion kiosk at a major airport, or one in major cities. – TainToTain Jun 8 '16 at 18:26
  • @TainToTain Do they have any requirements? Do I get an invoice? – Miheer Jun 8 '16 at 18:29
  • Why does the bank care when you received the Euros? – quid Jun 8 '16 at 18:37
  • I was told that they require a visa arrival stamp of within 6 months. Perhaps some regulation by the Reserve Bank of India. I don't know the exact details. – Miheer Jun 8 '16 at 18:41

You should be able to convert this officially. As per RBI regulation an individual can hold upto USD 2000 eq for an unlimited period of time. See the point 14 on RBI FAQ's for Fx.

  • Will I have to convert it at a money exchange rather than a bank? – Miheer Jun 9 '16 at 7:12
  • 1
    @Miheer You should be able to do this at Bank. Most small branches would shy away as they don't fully understand the regulation and play safe. – Dheer Jun 9 '16 at 8:34

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