Exchange of Currency by NRI,etc in RBI
Recenty I visited RBI New Delhi and found very big queue outside the gate of NRIs ,OCI and Indian Residents who went abroad befoe 8th Nov.2016 to meet their siblings,etc.They way they were handling was not proper in line especially for Sr.Citizens who had in same queue.
Further,it was noticed that NRIs were not given proper forms by the airlines while landing in India for new rules to exchange the old currency and get it certified by Indian custom authority before leaving the green or red channel at Indian Airports. If NRI,OCI,etc did not get the certificate at Indian Airports,they are not allowed to exchange the old currency upto a limit of Rs.25,000/- from RBI offices.
I also noted that if any Indian Resident returned from Abroad from vacation,business trip,meeting with siblings, etc during the above period and they have stayed abroad more than 180days ( in breaking period and not in one go ) during the financial year,they have been treated NRI as per statement given by officials of RBI. While I think if you stay more than 180days without break may be treated as NRI.The clarifications in this matter is required.
I seek the support of experts in this matter sothat our NRIs,Indian Residents visiting abroad should not face any problem. more
Further,it was noticed that NRIs were not given proper forms by the airlines while landing in India for new rules to exchange the old currency and get it certified by Indian custom authority before leaving the green or red channel at Indian Airports. If NRI,OCI,etc did not get the certificate at Indian Airports,they are not allowed to exchange the old currency upto a limit of Rs.25,000/- from RBI offices.
I also noted that if any Indian Resident returned from Abroad from vacation,business trip,meeting with siblings, etc during the above period and they have stayed abroad more than 180days ( in breaking period and not in one go ) during the financial year,they have been treated NRI as per statement given by officials of RBI. While I think if you stay more than 180days without break may be treated as NRI.The clarifications in this matter is required.
I seek the support of experts in this matter sothat our NRIs,Indian Residents visiting abroad should not face any problem. more
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I fully support one more chance, GIVING REASONABLE TIME, to all citizens for note exchange with any genuine conditions, undertakings & checks with government also bound by time limit to scrutinize. WHY NOT? SOMEONE, knowing process, please start a signature campaign appeal to the PM more
Feb 11
I also support the above proposal to give a decent chance to everybody to deposit old notes in any bank. more
Feb 11
The people visiting overseas or living overseas who have old currency should be given a decent chance to change their money. Denying them this will just prove true the words of previous PM Shri Manmohan Singh when he called the demonetization as " organised loot and plunder" and I am sure the present Govt does not want to prove him correct. more
Feb 10
Let us start a signature campaign addressed to the PM to give an open chance to NRI and may be a limited another chance, with long period, to exchange old currency notes. Can some one experienced on this start it? more
Feb 07
Dear Mr.Sushil Bhatia. I fully agree with your statement.I recently visited RBI New Delhi with my relatives returned from USA. Being Sr.Citizen it took three hours in line to enter in RBI premises. After filling the forms which is hardly one sheet, it took further 3hours to explain the purpose to remit the late amount at difference counters despite having documents such boarding and landing details in passport, Visa,bank pass book, pancard, aadhar card, etc. Govt. should look into the matter seriously. more
Feb 07
