Which Documents You Require For Money Exchange In India

Which Documents You Require For Money Exchange In India

It is important to provide copies of KYC documents whenever you engage in currency transactions through your bank or a particular money changer. These documents are referred to as "know your customer" forms. The Reserve Bank of India (RBI) has established regulations that are applicable to all banks and exchange houses that are regulated, and these standards are in line with those regulations.

The following are the key KYC documents that are essential for currency exchange:

For Selling Currency:

• Aadhar Card

• Driving License

• Voter's ID

• Passport (mandatory for NRIs/Foreigners)

For Purchasing Currency:

• Passport

• PAN Card

• Ticket/Visa