Demonitization for NRIs /OC- wrong interpretation
I think that there is a big disconnect between the two. GOI states that OCI and NRI are at same status for most things except for matters pertaining to Agriculture.
RBI notification and FAQ says that OCI cannot exchange notes. . Is this a way for the Government to write off these monies?
Memory is short. People will forget , but the principle is wrong.
If the rights are the same then OCI should also be allowed to exchange the notes and not left out.
We were forced to change our PIO cards to OCI- frankly this was wrong as NRIs are "People of Indian Origin" but NRIs are not "Overseas Citizens of India".
Our NRI status should not change.
Please bring this up to RBI and your bank managers.
I plan to visit India next week and have some old currency - I will be screwed more
Your questions amaze me. Do you travel often?
Do you know the airport conditions in the past and even today. Ask SBI for how long was their ATM down in 2015.
Taxis need cash, hotel needs deposits - we land usually late nights & past midnight. Without cash in hand one is screwed.
When we leave it is night flight-which bank open.
Money changers at airport rape you on the rates. We need c ash for food and shopping in airports.
Small amounts of cash have always been allowed and customs is aware as they see my pouch,wallet.
India is the only country which says cash cannot be allowed to be taken out but do not understand the above logistics passengers face.
Do you know rupee is freely available (displayed on open screen) in Singapore money changers counters even since I learnt of foreign exchange? It is freely available in Dubai and perhaps other countries.
Even the exchange in airport told me once that customs won't bother us for small amounts.
Mine is less the Rs50k - which buyers 3-4 days of hotel,food,transport .
You really need to check and understand the facts and actual issue before thinking that NRIs are cheating the country.
This black money biz is within India and Indian businessman, not working class people like me.
We contribute to the economy by Travelling to India and you make such statements . more