Q.959 Is it safe to travel to India - Visiting India November 20, 2016
Question: Am visiting India to go to Kerala on November 20. We will be in India for two weeks. I have heard of currency problems at Indian banks and seen long lines to get money on TV. I don’t have any bank account in India and will have US dollars and don’t need to take Indian money from banks. Is it safe to travel to India. G. Ahluwalia Answer: Your timing is unfortunately not good. Foreigners and Non-Residents (NRI) should if possible avoid visiting India for tourism purposes at least until the New Year 2017. India has suspended high denomination currency notes with no advance notice and people are in the process of converting their old currency for the new currency notes or trying to get lower denomination currency notes that continue to be accepted in India. There appears to be a shortage of the new currency and the government has currently limited currency withdrawals from bank accounts in India to only Rupees 10,000 at a time with a weekly limit of only Rupees 20,000 throughout India. While credit card use is not affected and payment can be made by Cheque. Tourists will find that many places in India do not accept credit cards, especially foreign credit cards or will be comfortable taking a Cheque from tourists traveling in India. Tourists arriving in India currently can exchange their foreign currency at the airport on arrival and get only Rupees 5000. Not enough money for a tourist to move around India for a two week period.Avoid travel to India until currency situation stabilizes
If possible cancel your travel plans to India until the currency situation stabilizes. I expect things to return to normal in the New Year. NRIs who have bank accounts in India take note that they are not exempt and can also only withdraw the same amount of Rupees 10,000 at a time with a maximum limit of only Rupees 20,000 per week! and yes, banks have suspended priority banking to cope with the large lines in front of banks, so don’t expect any special treatment as a priority bank account holder in Indian banks.
Disclaimer: Information provided is for general knowledge only and should not be deemed to be professional advice. For professional advice kindly consult a professional
accountant, immigration advisor or the Indian consulate. Rules and regulations do change from time to time. Please note that in case of any variation between what has been
stated on this website and the relevant Act, Rules, Regulations, Policy Statements etc. the latter shall prevail.
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What NRIs, OCI and PIO & Foreigners should know about India's currency ban
Options for NRIs & People abroad with Rupees 500 & Rupees 1000 currency notes
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Q.959 Is it safe to travel to India -
Visiting India November 20, 2016
Question: Am visiting India to go to Kerala on November 20. We will be in India for two weeks. I have heard of currency problems at Indian banks and seen long lines to get money on TV. I don’t have any bank account in India and will have US dollars and don’t need to take Indian money from banks. Is it safe to travel to India. G. Ahluwalia Answer: Your timing is unfortunately not good. Foreigners and Non-Residents (NRI) should if possible avoid visiting India for tourism purposes at least until the New Year 2017. India has suspended high denomination currency notes with no advance notice and people are in the process of converting their old currency for the new currency notes or trying to get lower denomination currency notes that continue to be accepted in India. There appears to be a shortage of the new currency and the government has currently limited currency withdrawals from bank accounts in India to only Rupees 10,000 at a time with a weekly limit of only Rupees 20,000 throughout India. While credit card use is not affected and payment can be made by Cheque. Tourists will find that many places in India do not accept credit cards, especially foreign credit cards or will be comfortable taking a Cheque from tourists traveling in India. Tourists arriving in India currently can exchange their foreign currency at the airport on arrival and get only Rupees 5000. Not enough money for a tourist to move around India for a two week period.Avoid travel to India until currency
situation stabilizes
If possible cancel your travel plans to India until the currency situation stabilizes. I expect things to return to normal in the New Year. NRIs who have bank accounts in India take note that they are not exempt and can also only withdraw the same amount of Rupees 10,000 at a time with a maximum limit of only Rupees 20,000 per week! and yes, banks have suspended priority banking to cope with the large lines in front of banks, so don’t expect any special treatment as a priority bank account holder in Indian banks.
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