RBI ends the limited-period exchange facility of demonetised Rs. 500 and Rs. 1000 Notes for Indians who were in foreign countries during the demonetisation. Many of them failed to do so as there were very limited counters and lack of awareness about this scheme and procedure.
However, there is good news for NRIs (Non-Resident Indians). They can exchange their demonised Rs. 500 and Rs. 1000 Notes till 30 June 2017.
NRIs that come to India for the exchange of demonetised currency are required to come through red channel disclosing at the airport and inform customs officials the amount of currency they are going to exchange. At the time of the exchange, a certificate will be issued to them at RBI.
Also, Read:
GIFT city of Gujarat to have one more branch of Axis-Bank
SBI merge with 6 banks will be completed in three months
Account holders with Rs 20K to 25K will be given credit cards