Close X
Thursday, November 14, 2024
ADVT 
International

NRIs Can Deposit Old Rs. 500, 1,000 Notes Till June 30

IANS, 09 Jan, 2017 12:02 PM
    Indians living abroad will be able to exchange old Rs. 500 and Rs. 1,000 notes at RBI offices till June 30, the External Affairs Ministry announced today.
     
    The Ministry said the provision to exchange the notes would be subject to the regulations of the notification - Foreign Exchange Management (Export and Import of Currency) Regulations, 2015 which put the limit of bringing back currency into the country at Rs. 25,000 per person. 
     
    The announcement comes a day ahead of the three-day-long Pravasi Bhartiya Divas convention in Benguluru which is expected to be attended by overseas Indians from across the world.
     
    "The Ministry of Finance through a gazette notification S.O. 4251(E) dated December, 30, 2016, in exercise of the powers conferred by relevant provisions of the Specified Bank Notes (Cessation of Liabilities) Ordinance 2016, has announced that this facility (exchanging old notes) would be available to all Indian citizens who were outside India from November 9 to December 30 to tender these SBNs (specified bank notes) at the specified Issue Offices of RBI until 31 March 2017.
     
     
    "For those citizens of India, who are not resident in India, this facility would be available till June 30, 2017 in order to allow them adequate time to plan a visit as per their convenience," the MEA said in a statement.
     
    It said separate FEMA provisions will also be applicable to persons in Nepal and Bhutan which would continue to apply.
     
    "The facility would be subject to the regulations of the notification 'Foreign Exchange Management (Export and Import of Currency) Regulations, 2015'. As per these regulations bringing back such currency into the country is restricted to Rs. 25,00 per person. Separate FEMA provisions are applicable to persons in Nepal and Bhutan which would continue to apply," the MEA said.

    MORE International ARTICLES

    Indian Teacher Found Dead In Dubai Apartment

    Indian Teacher Found Dead In Dubai Apartment
    An Indian faculty member of an educational institute here was found dead in his apartment days after he stopped reporting to work, the media reported.

    Indian Teacher Found Dead In Dubai Apartment

    Norway Child Row: Sushma Swaraj Demands Family Reunion

    External Affairs Minister Sushma Swaraj on Tuesday demanded that the five-year-old child, who was separated by Norwegian authorities from his Indian origin parents who have been accused of beating him up, be reunited with his mother and father.

    Norway Child Row: Sushma Swaraj Demands Family Reunion

    Indian Priest, Abducted From Yemen, Appeals To Pope Francis, Centre For Help

    Indian Priest, Abducted From Yemen, Appeals To Pope Francis, Centre For Help
    An Indian Catholic priest abducted from Yemen this year appealed to Pope Francis and the central government to secure his release from his captors. 

    Indian Priest, Abducted From Yemen, Appeals To Pope Francis, Centre For Help

    Norway Child Row: NRI Mother Gurvinderjit Kaur Writes To Indian Government To Take Action

    Norway Child Row: NRI Mother Gurvinderjit Kaur Writes To Indian Government To Take Action
    The Indian woman, whose son has been taken away by the Norwegian authorities, has approached the Indian Embassy in Oslo seeking government's intervention, following which the Ministry of External Affairs (MEA) said it will now chalk out the future course of action in the case.

    Norway Child Row: NRI Mother Gurvinderjit Kaur Writes To Indian Government To Take Action

    Sikh Doctor Jaswinder Pal Singh Of Kentucky Files Religious Discrimination Lawsuit

    Sikh Doctor Jaswinder Pal Singh Of Kentucky Files Religious Discrimination Lawsuit
    Jaswinder Pal Singh of Kentucky is a licensed and board certified physician practising in the area of neurology.

    Sikh Doctor Jaswinder Pal Singh Of Kentucky Files Religious Discrimination Lawsuit

    Unattended Bag With Toys Prompts Evacuation Of Trump Tower

    Unattended Bag With Toys Prompts Evacuation Of Trump Tower
    The lobby of the Trump Tower, which houses US-President elect Donald Trump’s penthouse, was briefly evacuated on Wednesday after a suspicious bag was found near one of the luxury stores in the building that later turned out to be a packet with toys.

    Unattended Bag With Toys Prompts Evacuation Of Trump Tower