Demonetized currency

[Ram P]

Dear Sir,
There are many NRIs living abroad possessing  the old Rs.1000 &Rs.500 demonetized notes which they would have carried with them on return from a visit  to India.  Many may not be  in a position to come back on  a second visit  before 31st December 2016 to get these notes exchanged. Has RBI or any of our Banks made any provision in this regard.  If any of our members in this blog have information on this,please share.
Thanks
P.Ram

[KLRao , Amnesty International Member]

Dear  Mr Ram, I am Lakshman here from California , -the notifiction says currency change is through Banks & Post offices till Dec 31st, 2016, later, at RBI approved offices till 31st March, 2017. 

I suggested our PM to instruct RBI, to provide 6 months time, to NRI parents , who have gone to other countries to spend with children and return to India,  after 31st March .  WE have demonitized currency with us and also at home, to be exchanged. I suggest all of you to write, to PM . Otherwise our hard earned  tax paid, money will be lost . - KLRao , California. 

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[KLRao , Amnesty International Member]

Dear Mr Ram, I am Lakshman here, I think,  those NRIs can deposit such demonitized currency for credit of their NRI accounts with  SBI or ICICI or some other Indian Bank branches , abroad, such NRIs can email those Branches and find out the procedure. I sent e mail to SBI, Sanjose, just waiting for their reply. - KLRao @ California 

On Mon, Nov 14, 2016 at 5:02 PM, Ram P <panchana...@gmail.com> wrote:

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[Chandra Sekhar A]

They can exchange at branches of Indian banks like SBI,BOI abroad----chnadra sekhar canara bank hyd

chandra sekhar

On Mon, Nov 14, 2016 at 5:02 PM, Ram P <panchana...@gmail.com> wrote:

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[Ram P]

I have information that Indian Banks having branches abroad are declining to exchange the demonitised notes. I feel the Ministry of External Affairs must coordinate with RBI on this issue and come out with a solution.

[Potturi Satyanarayana]

NRI is not permitted to carry with them Rs 1000/- and Rs 500/- denomination with them.They can carry only permitted amount in Rs 100/- denomination only.

satyanarayana

[Prabhakar Subramanian]

Dear fellow Retirees,

The  concern of the people abroad about the hard earned money in 500s/ 1000s with them, is quite natural and genuine .The following link should be of some help to them on the modalities and the way to go about to safeguard their interest.

 http://nricafe.com/5-ways-nris-can-convert-1000-500-rupee-notes/

Best wishes

Prabhakar

Inbox

On Mon, Nov 14, 2016 at 5:02 PM, Ram P <panchana...@gmail.com> wrote:

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[Sureshbhat M]

Dear Prabhakar Sir                            18/11/2016

 As I know there are many  NRIs who kept large number of 1000/- and 500/- currencies in their locker for the reason that  it is their income generated from Indian property as - agl income , earlier incomes etc to avoid NRO interest. Unfortunately they can not convert or credit it to their a/c now. Even on a future date they can not claim it through RBI as it was concealed instead of maintaining in NRO a/cs.

Regards

Suresh Bhat M

[Ajaz Sikora]

In this regards, I had written to RBI but stereo type reply was received.  I have written to Shri Modiji and received no reply confirmation with reference no.  Yesterday TOI carried a news that Govt has set up a committee with MEA .
On an average we get about 20/25 calls/visits by Indians to exchange SCN at auckland. As of now, no other information or instructions are available
Regards
Ajaz

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