2017-01-02 Mon

It has been announced that old Rs 500 and Rs 1000 notes can be exchanged by NRIs till 30th June 2017. The facility though is not for people from Nepal, Bhutan, Pakistan and Bangladesh. Indian citizens who were abroad from 9th November to 30th December can get their old notes exchanged till 31st March 2017. There is no exchange limit for the eligible Resident Indians and the limit for NRIs will be as per the relevant FEMA Regulations which is Rs 25,000.

Aadhaar number, Permanent Account Number (PAN) etc, documentary evidence showing they were abroad during the period and, that they have not used the exchange facility earlier, Customs certificate about import of SBNs by NRIs etc will have to be presented. Third party tender will not be accepted under the facility.