Man held with foreign currency worth Rs 27 lakh at airport

A man was today arrested for allegedly trying to smuggle out foreign currencies--Euros and US Dollars--worth about Rs 27 lakh at the international airport here.
The accused, who hails from Delhi, was to board a flight to Bangkok. As soon as he arrived at the airport, his movements were watched and he was intercepted by customs officials.
"On examination of his baggage, it was found containing foreign currency in Euros amounting to 23,300 and USD 12,500 (equivalent to Rs 27.20 lakh)," a press release issued by the customs said.
The passenger could not provide evidence in support of lawful possession of the recovered foreign currency and hence, the currency was seized under the relevant provisions of the Customs Act read with Foreign Exchange Management Act (FEMA), it said.

The passenger was arrested and the foreign currencies recovered from him was seized, the release said.
As per rules, there is no cap on carrying foreign currency by an Indian national provided he gives a valid proof of its legal source.