How to Exchange NRIs Old Rupee Notes When Return to India ?
Here we are introducing an article about How to Exchange NRIs Old Rupee Notes When Return to India ?. Most of the NRIs facing money problem, because of the demonetization of Rs. 500/- and Rs. 1000/- currency. Our Prime Minister of India Narendra Modi announced the demonetization decision on 8th November 2016 to crack down on black money in the country. So if you are an NRI returning to India, check out our article. We hope that, this article will help you to overcome this problem.
The old notes should exchange from 8th November till 30 December. This is the Govt. allowed time. But now the Government of India allowed additional time of few more days with conditions to exchange the old Rupee notes for new. The time is only extended for those who staying outside India like NRIs.
Steps for exchanging old rupee notes of NRIs while returning to India
First, you need to declare your cash with the customs at Airport and receive a declaration form them (for the money you carry). This declaration form, attached with documents is a proof that you were abroad during the 8th November to 30 December. Then, visit the RBI office in India (Mumbai, New Delhi, Chennai, Kolkata, and Nagpur). There your old notes will be exchanged with new.
If any resident Indians or non-resident Indians are returning back to India from the period up to 31 March 2017/ 30 June 2017 carrying Specified Bank Notes (SBNs) for depositing in the specified offices of RBI in India, they also need to fill the declaration form.