Q.965 How those holding

discontinued Indian currency

abroad can exchange 500 & 1,000

rupee notes

Question: Dear Sirs, We are now in USA. We are likely to be back in India by Oct 2017. We have Rs.8000 in the denomination of Rs.1000 & Rs.500. Can you please advice/suggest how to get special permission to exchange these at RBI, Chennai or any bank at Chennai on our return in Oct/Nov 2017? We have no problem in showing proofs for date of leaving India & date of reaching India. Thanking you, Subramanian.V Answer: The amounts of Indian currency notes held abroad would be a small amount as the maximum limit of only up to Rupees 25,000 was allowed to be taken out by people when leaving India. The current government has been quite favorable to non-residents in the past and I am confidant that some relief will be announced in the near future to ensure that those with legal Indian currency abroad do not lose their money. Currently the government of India is perhaps occupied in trying to cope with the problems in India that people are facing due to the sudden currency ban and once things return to normal, hopefully a positive announcement would be made by the government of India specifying ways that those with discontinued Indian currency notes can exchange their money abroad or in India. Latest information for NRIs and Foreigners who may have discontinued Indian currency notes of Rupees 500 & 1000 denomination is provided on NRI Information, to view the article visit: http://nriinformation.com/articles5/currency_ban _nri.htm As soon as more information becomes available I will post it on this website and also on NRI Information Twitter account