The Modi government’s sudden step of demonetization not only took the Indian population by surprise but also left many NRIs across the globe in a state of confusion. As a company of legal service experts dedicated to NRI issues, we took the step of sharing what we feel can be done to make the process simpler for overseas citizens. It is likely that most NRI’s have some old  500 and 1000 rupee notes which are no longer considered legal tender. Most NRI’s prefer to keep small amounts of Indian currency to meet their immediate expenses when they arrive in India. Here are some of the things you could do to change 500 and 1000 rupee notes :

  1. Bring the cash with you to India
  • If you are planning to travel to India before December 30, 2016 then you can bring the cash with you and exchange it at any bank or post office in India.
  • In addition, you have up to March 31, 2017 to exchange the money at specified RBI office by furnishing passport and visa details that prove you were out of the country.
  1. You could send the physical money with someone you trust:
  • If you are unable to travel to India you can give the money to someone else you trust who is travelling to India.
  • They could then exchange it on your behalf.
  • For small amounts (less than Rs. 25,000) it would probably not be an issue, but for amounts larger than that it is advisable that you provide an authorizing letter to that person to exchange the bills on your behalf with other valid documents like PAN card, Aadhaar card, Passport copy, Visa copy etc.
  • Please do remember that the limit on currency a traveler can bring into India without declaring is Rs. 25,000.
  1. If you already have cash in India:
  • According to RBI guidelines, if you have old banknotes in India, you may authorise in writing and enable another person in India to deposit the notes into your bank account.
  • The person so authorised has to come to the bank branch with the old notes, the authorisation letter given by you and an identity proof (Valid Identity proof is any of the following: Aadhar Card, Voter ID Card, Pass Port, Driving License, NREGA Card, PAN Card, Identity Card Issued by Gov. Dept, Public Sector Unit to its Staff).
  1. You could deposit the old notes in your NRO account:
  • You can deposit your notes into your Non-Resident Ordinary (NRO) Savings Account.
  • However, this is an option only if you are travelling to India before December 30, 2016.
  • There was another option–that of using a certified money exchanger but as of the writing of this blog it is our understanding that a majority of the commercial money exchange outlets have stopped accepting the old 500 and 1000 rupee Indian notes. So this option is no longer viable for most NRI’s, but they may want to check with the local money exchanger.

WHAT IF NONE OF THESE OPTIONS ARE SUITABLE TO ME?

If none of the above options are working for you, there may still be an option made available, states India’s Ministry of Finance. In a press release, the statement says, “For those who are incapable to exchange their 500 and 1000 Notes or deposit the same in their bank accounts on or before December 30, 2016, an opportunity will be given to them to do so at specified RBI offices on later dates along with required documentation as may be specified by the Reserve Bank of India.”

We, at NRI Legal Services, will of course keep you updated as and when new options are opened by the government and the RBI. We urge you to check our Facebook page and website regularly for updated information.

The current demonetisation is unprecedented and historic . Notifications and updates are coming in daily . While we are trying our best to bring you the most accurate and updated Information on this subject it is a possibility that by the time we relay the information it might have been changed. Please verify from the official site of RBI before taking any action (https://www.rbi.org.in/)

279 Replies to “Guidelines for NRIs to change 500 and 1000 rupee notes in India”

    1. There is no bar on deposit of money as long as you can show source of money/income. Tax is not an issue for an NRI

  1. If I do not have nri account, how do I deposit 500 or 1000 rupees . Also what is the deadline to deposit and what is the limit to deposit? I can not send money to India before Dec 31, 2016

    1. As we mentioned in the article also, here is what you can do:
      “For those who are incapable to exchange their 500 and 1000 Notes or deposit the same in their bank accounts on or before December 30, 2016, an opportunity will be given to them to do so at specified RBI offices on later dates along with required documentation as may be specified by the Reserve Bank of India.

    2. While visited from India to Canada in may 2016, brought with me Indian currency of rs.20000/- . As I planned to go India in 1st March 2017. Plz advice how can get exchanged said amount in india on my visit to India.further added that my wife and me both came here as p.r.

      1. As per the available information, An opportunity will be given to those who cannot travel to India before December 30, 2016 to deposit the old notes till June 30, 2017 at Specified RBI office by producing required documents.

  2. Why Indian banks in US not accepting these notes? Non-Resident Indians are not going to make a trip to India for this stupid reason and stand in line. One has to spend $1000 for a trip to exchange some money which is less than $1000. It is crazy.

    1. Only Indian passport holder NRI can exchange the old currency. No OCI holder is allowed. Get Custom letter on arrival, passport, pan or aadar card Original n copy, bank passbook n copy 1st pg. RBI Mumbai opens at 1030 hrs n queue is about ,20 persons. Processes fast.
      Unfortunately old and sick persons, OCI holder the provisions are not addressed correctly, very sad and unfortunate

  3. gud morning ,
    i am student studying in south tyneside college. i came for with one year visa as the course is for one year. while coming from india at airport i was allowed to exchange only 50000 inr as the limit.remaining amount i brought with me to UK.
    how can exchange this amount with GB pounds in UK, as i am not going to india until 2017 august.
    please.advise.

    1. As of now the RBI circular says that you can exchange comfortably till 31st march 2017 at designated RBI branches. This date can be even extended further for person staying outside India after proving proof of the same.

    1. There is no bar on deposit of money as long as you can show source of money/income. Tax is not an issue for an NRI

  4. Hi
    My name is prital qe live in London. We came to India in august 2016. Fifteen of us came for the wedding. We all have some money which we bought it back we are not planning to go back as yet but how do we send this back I do have account in bank of India can I deposit this money in to this account in London.

    1. No banks will accept indian currency in foreign jurisdiction. You were suppose to reconvert into foreign exchange when you were exiting India. Now you will have to personally visit and get it exchanged from banks in India.

  5. I want to clarify this statment of yours
    >>Please do remember that the limit on currency a traveler can bring into India without declaring is Rs. 25,000.

    If you see the Indian Customs Declaration form one has to fill before landing at any port in India, It says
    Indian currency exceeding Rs. 10,000/- Please Tick Yes/No

    So is it 25000/- as you mentioned or 10000/- really? Has it changed? Which one is latest info.

    See the form here:
    http://www.path2usa.com/customs-at-indian-airports

  6. With kids we always have some INR. Government should consider some option to NRI to convert their currency .31st March 2017 is very short time for NRI to visit again.If the Indian Ministry wishes,they could find ways for the NRI to convert their
    currency.

  7. I gave my money from my nri account to a friend via account transfer , Now he wants to return my money in cash how can I deposit the same in my resident acount or nro account. Will I be questioned on this or will it be taxable ?

  8. I have INR 22000 with me in USA. Leaving for India on 24 th November. Is their any provision at Delhi Airport to change my old Rs 500, 1000 notes/bills into new current currency?

    1. You can convert the INR 5000 at the airport and rest of the amount you can deposit into the bank account.

  9. One more thing to clarify. 25000 INR is the limit to take cash without declaring, per person or per family if going together in the same flight. Thank you.

    1. If you are planning to travel to India before December 30, 2016 then you can bring the cash upto 25,000 INR per person and exchange or deposit it in bank.
      According to the RBI guidelines, another opportunity will be given to those who cannot travel to India before December 30, 2016 to exchange or deposit the specified notes till March 31, 2017 at specified RBI office by producing required documents.
      For more information Please check the below link
      https://rbidocs.rbi.org.in/rdocs/notification/PDFs/CR3105F871DDFD343407BA1BC640B96AFB21A.PDF

  10. is there facility available at airport to exchange notes ? I have 500-100 notes and travelling to India tomorrow reaching there in midnight. Where can i get money exchanhe for cab and other expense?

  11. I have some rupee when we come to india we exchang $ when we came back us we still have some rupee now what ?

    1. Currency can be exchanged in India either by personally tendering it or by sending it through an authorized representative in any of the banks or post offices in India till 30th December 2016

      As of now the RBI circular says that you can exchange comfortably till 31st march 2017 at designated RBI branches.

    1. Currency can be exchanged in India either by personally tendering it or by sending it through an authorized representative in any of the banks or post offices in India till 30th December 2016

      As of now the RBI circular says that you can exchange comfortably till 31st march 2017 at designated RBI branches.

    1. If you are planning to travel to India before December 30, 2016 then you can bring the cash upto 25,000 INR per person and exchange or deposit it in bank.
      According to the RBI guidelines, another opportunity will be given to those who cannot travel to India before December 30, 2016 to exchange or deposit the specified notes till March 31, 2017 at specified RBI office by producing required documents.
      For more information Please check the below link
      https://rbidocs.rbi.org.in/rdocs/notification/PDFs/CR3105F871DDFD343407BA1BC640B96AFB21A.PDF

  12. I am planning to send 25,000 with my friend who goes to India.She is already taking 45,000 of herself and friends.What are the letters/documents she needs from each of us..Thanks.

  13. Namaste
    I live in Dubai since last 10 years, i have NRE and NRO bank account with Axis Bank in ahmedabad,..there was one conferance in dubai on 12th November 2016, one reputed CA was addressing and i asked him, how much cash i can deposit in NRO account,, he told me since you open your NRE and NRO account,,whatever amount you have withdrew , you can redeposit in NRO account,, my familly is in india, and approximate, we have withdrew more then 20 lakhs rupees in last 10 years.. i am not submiting income tax return as a NRI.. in this case ,is it possible to redeposit all amount in NRO account?..there will be no Income Tax scrutiny or fine ?…pls advice

  14. my mother is going to be traveling to india in the coming week. She will have about 20,000 inr of her own that she will be taking to get it exchanged/deposited to her account. I along with my wife will be traveling to india after the the deadlines mentioned in the article above. Can my mother carry an addition 20,000 rupees of mine if I give her a signed and notorized letter stating that she will be carrying 20,000 rupees on my behlaf because i am unable to travel for the sole purpose of exchanging/depositing the said currency into my bank account there?

    If she carries her own money and mine, she’ll have more than the 25,000 inr limit while traveling. Will she be okay at customs if she has a authorization letter from me?

  15. Dear Sir,

    We are an NRI family in Dubai. We have 10L in India saved up and my father is the only working person and has the proof of income.

    When we come to India, can we deposit all that money into my father’s account, or will we all have to distribute the amount and deposit it into our separate accounts?

    Thanks.

  16. Dear concern person ,
    I live in Australia past 10 years. In past time I sent some money in lacs to my family and friends for investment purpose .. now I want my money back, I do have an NRO account and prof of transfer. how much amount I can get back ..

  17. raj nov 17th
    can one carry more than 25000 Rs say 1,00000 Rs of this banned 500 and1000
    with letters from my family i am carrying their money too

  18. Hi,

    I am from Perth, Western Australia. I will be reaching Mumbai on 06.12.16. Is there any facility at the Mumbai International airport to exchange the Old Rs.500 and Rs.1000 notes?

  19. If you see the Indian Customs Declaration form one has to fill before landing at any port in India, It says
    Indian currency exceeding Rs. 10,000/- Please Tick Yes/No

    So is it 25000/- as you mentioned or 10000/- really? Has it changed? Which one is latest info.

    Declaration form does not say Rs 10000. It says $ 10000..

  20. raj nov 17th
    can one carry more than 25000 Rs say 1,00000 Rs of this banned 500 and1000
    with letters from my family i am carrying their money too

    waiting for your response to this question by vimala raj – thanks

  21. I am travelling to India with my 25000 cash. Can I carry additional 25000 on behalf of my friend with his authorisation letter (also similar amount with a letter from my wife). This question asked before by others and the reply is eagerly awaited.

  22. Need to increase time limit for NRI to deposit old notes, since 31st March 2017 is not enough. No one can make special trip just to exchange the money.

    1. We understand your concern but RBI has not provided any guidelines regarding this.

      NRIs would personally need to exchange the notes in India or authorize someone to do it for them. The foreign branches of Indian banks, both public and private sector, are not accepting cash outside the country.

      Currency can be exchanged in India either by personally tendering it or by sending it through an authorized representative in any of the banks or post offices in India till 30th December 2016. Your representative must possess your authorization letter and a valid identity proof.

  23. Since these old notes of 500 and 1000 is technically not legal tender . What difference does it make how much is allowed back into India (max of only 25000 ) it’s not legal money anymore . Right?

    1. If you are planning to travel to India before December 30, 2016 then you can bring the cash upto 25,000 INR with you and exchange or deposit it in bank.

      According to the RBI guidelines, another opportunity will be given to those who cannot travel to India before December 30, 2016 to exchange or deposit the specified notes till March 31, 2017 at specified RBI office by producing required documents.

  24. I am requesting please extent the exchange old currency notes Rs-500 & 1,000 for NRI. We are not able to exchange until 2017.Otherwise we lost our earned money

    Thanks

  25. Dear how much Euro can I bring to India
    If I want to declare my euro at airport is thr any problem i hv to face?

  26. Hi team,

    Me and my husband are staying in U.K. And will be returning to India in April or May 2017.

    We have 8500Rs of old notes. Please let me know how can we exchange these notes as the last date mentioned in your circular is 31st Mar 2017.

    Thanks,
    Chandani

    1. We cannot say anything as of now but it is expected that the govt. might extend the date for NRIs.

  27. Hi,
    I am confused could you help me clarify below
    1) RBI guidelines as linked below says residents of India traveling abroad and returning home can bring up to 25,000 (question 4 on below link)
    https://rbi.org.in/scripts/FAQView.aspx?Id=66#q4

    2) according to Bombay airport customs web site
    Quote
    “Import of Indian currency isnot allowed except for passengers normally resident in India who are returningfrom a visit abroad. Such passengers can import Indian currency notes of valuenot exceeding Rs. 25,000/-”
    Unquote
    http://www.customsmumbaiairport.gov.in/forms/Content.aspx?LinkID=203

    My question is: Are Indian born US citizens allowed to take IRS 25,000 back to India when visiting India?
    Thanks
    Anil

  28. Hi there…
    My mother had gone to Auckland NZ last month and will be returning on 28th of Feb,2017.She has a cash of around 18K INR with a denominations of Rs.500 & Rs.1000.
    As she has no account either here or there.After arrival can she along with those notes and by showing her passport & ID proof o so be able to exchange with new notes at RBI office at Mumbai(BKC)
    Kindly suggest what will be the best possible action/

    thanks & regards

  29. Hello NRI Legal Services,
    I have a NRO account and I’m reaching India before 31Dec2016. I have around 5Lacs in cash back in India. What documents should I need to take from abroad to show the source of money/income? I do have a PAN card.
    Waiting for your reply.
    Thnks.

  30. NRI’s : Exchange your currency at a local currency exchange, might loose a bit on the exchange, atleast wont have to travel to India or send money with somone else. Get ur dollars in return and take it easy !

  31. My friend have near 100000 indian 500 and 1000 rs note one known person going india can i send that money with friend what i have to do and with decleration how much can take rs in india

    1. As per the RBI guidelines. You can bring the cash upto 25,000 INR with you. Please check the below link for more information.
      https://rbidocs.rbi.org.in/rdocs/notification/PDFs/CR3105F871DDFD343407BA1BC640B96AFB21A.PDF

      In case you are sending money through someone, your representative must have your authorization letter and a valid identity proof.

      According to the RBI guidelines, another opportunity will be given to those who cannot travel to India before December 30, 2016 to exchange or deposit the specified notes till March 31, 2017 at specified RBI office by producing required documents

  32. THE GOVT SHOULD GIVE 6 MONTHS FROM 8TH NOVEMBER 2016N T0 7TH MAY 2017 TO PEOPLE OUT OF THE COUNTRY TO DEPOSIT WITH PASSPORT PROOFS IN TJEIR INDIAN BANKS. MAXIMUM AMOUNT SANCTIONED CAN BE RUPEES 50 THOUTHAND ONLY, MONEY IS LYING IN HOUSE IN IDIA,
    GOVT SHOULD TAKE ACTION IMMEDIATELY
    MLGUPTA PUNE MAHARASHTRA INDIA

  33. My Family has been living outside of India for over 20 years now, and we travel to India once every couple of years. This time the earliest we can come to India is in June 2017. Does this mean that my money is wasted? How is that even possible for the Indian Government. It wasn’t cheated and it was always legitimate.

    I have no family or friends in India that I have been very close with. This is very disappointing from the Government to not give a right direction.

  34. 1. The bank notes contain a signed pledge from RBI Governor: I promise to pay the bearer an amount of…”.If this is violated merely because somebody could not travel to India within a stipulated time, it is a breach of trust.
    2. The present happenings will erode the credibility of GOI, and nobody will be willing to make any investment. Who knows what will happen to FCNRs and NRE/NRO accounts already opened.
    3. The least the GOI can do is to give time to NRIs till their immediate next visit which can be verified from their passport entry, regardless of when the visit will be.

  35. I live in Australia acme am travelling to India in the first week of December. I have been given some money by the Indian friends for depositing in their accounts with their self attested Pan card copies and authorisation letter. Is it okay to carry Rs 70000 approx with that back up?

    1. As per the RBI Guidelines,

      If you are planning to travel to India before December 30, 2016 then you can bring the cash upto 25,000 INR and exchange or deposit it in bank. As you need to deposit the cash in the accounts of your friends, you must have their authorization letters along with your valid identity proof

      Please check the below link for more information
      https://rbidocs.rbi.org.in/rdocs/notification/PDFs/CR3105F871DDFD343407BA1BC640B96AFB21A.PDF

  36. I live in UK…i have got some indian currency notes….but in the coming days I’m not going to visit India .how can I change my notes in UK?plz suggest something

    1. All money exchangers outside India have reportedly refused to accept the old 500 and 1000 notes since the announcement. Foreign branches have also stopped accepting old notes. Old currency can be exchanged or deposited in Indian branches only.

  37. On of my friend resides in china and he is in urgent need of money. How can i transfer money from india to china after the demonetisation. Can i deposit old notes and transfer it to china or any other way? Please help out. Thanks 🙂

  38. Hi NRI Legal Services,

    We are in Durban, South Africa. As per customs declaration form NRI passengers who stayed over one year can carry Rs 50,000 (Men) and Rs 100000 (Ladies). We have Rs 80,000 for the family. None of the indian banks (SBI, BOB canara) in South Africa and money exchangers (Western Union, Bidvest etc) are acepting Rupees. We just visited India few months back. Making another trip to exchange the money is not cheap especially in very busy december. As of now the instructions are we need to make a trip before 31 March 2017 and go to RBI branch to exchange money. If not, we will loose our Genuine, hard earned legal white money. Isn’t it? If the govt considers that will be good…Or Govt may instruct Indian embassies/consulates to make arrangements with Indian banks in countries at least for the customers to deposit rupee notes.

    At Raman: as you stated “……………..it is breach of trust”. I don’t think it is breach of trust. It happend in 1978. If the currency notes are not accepted by financial instutions and RBI without RBI’s instructions or declaration, then that is breach of trust. Now, they have declared the ban and gave us dead line. We can only request for extending deadline for our genuine reasons. Correct me…if I am wrong.

    1. According to the RBI guidelines, another opportunity will be given to those who cannot travel to India before December 30, 2016 to exchange or deposit the specified notes till March 31, 2017 at specified RBI office by producing required documents.

  39. What the limit for taking dollars to India? and can those be converted to Indian currency at the airport? Is there a limit for conversion?

    1. The Reserve Bank of India has four zonal offices at Chennai, Delhi, Kolkata and Mumbai. It has 19 regional offices and 10 sub-offices.

      1. is there any RBI office in Ahmedabad Gujarat?
        actually i am travling India on 5 feb 2017? I am gonna land at ahmedabad so can i go RBI office in ahmedabad for deposit my and my family 500&1000 rupees notes?
        please reply me soon
        thank you

  40. I have 15K Indian currency and I am not planning to come until Oct 2017. What should I DO? Is there any provision for NRIs to exchange old currency, if they are coming to India after april ????

    1. We understand your concern but RBI has not provided any guidelines on further dates yet.
      NRIs would personally need to exchange the notes in India or authorize someone to do it for them. The foreign branches of Indian banks, both public and private sector, are not accepting cash outside the country.
      In case you are sending money through someone, your representative must have your authorization letter and a valid identity proof.

      According to the RBI guidelines, another opportunity will be given to those who cannot travel to India before December 30, 2016 to exchange or deposit the specified notes till March 31, 2017 at specified RBI office by producing required documents

  41. My question in simple.
    Im an NRI travelling to India with INR 150,000. Which means I have to declare the funds as it is above 25,000.

    What happens then? How much of customs would I have to pay?

  42. I have 1.5 lakhs with me. Iam coming to india in december. If i declare the amount. What happens next. Do i ve to pay duty or fine.

    1. Currency can be exchanged in India either by personally tendering it or by sending it through an authorized representative in any of the banks or post offices in India till 30th December 2016

  43. Not knowing I brought 2.500 INR in 500 notes. I am not an Indian citizen.
    My sister in law is going to India in January. Can she change this money for valid INR?

    1. If you are sending money through someone, your representative must have your authorization letter and a valid identity proof.

      According to the RBI guidelines, another opportunity will be given to those who cannot travel to India before December 30, 2016 to exchange or deposit the specified notes till March 31, 2017 at specified RBI office by producing required documents

      1. Hi there,
        I am a US citizen( Indian) and I’ve Indian old 500 – 1000 bills worth about 8-9 lacs rupees with my relatives in India and now I’m in India, so can I go to RBI bank and get them changed with new one’s ??

  44. This is Guruprasad, currently residing out of India, I have some old curency, and the regret is there is no chance of visiting India on or before 31/03/2017 nor nobody is agree to take my currency from here to India. Is dere any possibility for this situation that I can exchange my currency?

    1. All money exchanges outside India have reportedly refused to accept the old 500 and 1000 notes since the announcement. Foreign branches of Indian banks have also stopped accepting old notes.

  45. Does this inr 25000 per person include kids and infants as well. If it’s a family of 4, can we carry 100000 inr to India? Kids are 4 and 1year

  46. Sir I welcome the initiative taken by our PM to curb the Black money. I fully support our PM. For Demonetisation.
    I came to US recently on Green Card and I will back to India in 2018.
    Now problem is me and my spouse have RS. 28500/- of 1000-500 denomination and I am unable to understand what to do with my hard earned money. As per the present rule it can be change till March. I am also having my a/c with SBI n India. Kindly advise me. With kind regards
    Syed Parwez Hashmi

    1. All money exchanges outside have stopped accepting the old 500 and 1000 notes since the announcement. Foreign branches of Indian banks have also stopped accepting old notes.
      As per the RBI Guidelines, if you are planning to travel to India before December 30, 2016 then you can bring the cash upto 25,000 INR (per person) without declaration and deposit it in bank.
      Another opportunity will be given to those who cannot travel to India before December 30, 2016 to exchange or deposit the specified notes till March 31, 2017 at specified RBI office by producing required documents

  47. We travel every year once during Scholl holidays in July and August
    Looks like we are struck with whatever we have or really on someone else traveling before 30dec

  48. A relative is visiting from India on visitor visa and will be going back before Dec 31, 2016. Have several family members who are NRIs that have rupees in the US. None of us can travel to India or even if we can, the tickets cost more so it’s not worth it. Can we all send the rupees (couple of lakes worth) with the relative returning to India along with our authorization letters and passport copies? Also, when we declare more than 25,000 rupees, what will be the duty amount? I read somewhere it’s 36.5 % plus another 3%. Anybody know? Thanks!

    1. As per the information available, you can bring cash upto 25,000 INR per person without declaration. There is no information available regarding the duty to be levied.

  49. On tourist visa at present I am in America with family and come back to India in March 2017.Kindly advise me how to exchange old notes I have with me back to India.

    1. As per the current RBI guidelines, you can deposit the specified notes till March 31, 2017 at specified branch of RBI office by producing required documents.

  50. Can you tell me we are students studying in Ukraine we have around 3 lakh rupee all total so how can xchange this money ..if one person coming to India can bring this money and submit to bank

    1. As per the RBI Guidelines, if you are planning to travel to India before December 30, 2016 then you can bring the cash upto 25,000 INR (per person) and deposit it in bank.
      Another opportunity will be given to those who cannot travel to India before December 30, 2016 to exchange or deposit the specified notes till March 31, 2017 at specified RBI office by producing required documents

      1. Can I bring this all amount and submit to forigen account because no students can travel before 31st March … Tell me please is any procedure for this

  51. Is 25000 rs. the limit for taking to india per person in a family travelling, for a spanish passport holder having oci card also?
    Is ration card copy also valid id proof if i authorize someone to deposit the notes in my account?
    Should i send only attested pan card copy or attested passport cppy should also be sent?
    In the authorization letter do i jave to mention the no. Of 500 and 1000 rupee notes that have to be deposited ?
    Also in the authorizing letter do i have to mention specific name of the person authorized and relation or i can just mention ‘the person holding this letter’

  52. I m having more than 35 thousand indian rupes i m working in qatar i will go india after jan 2017 . Soo how i will get new currency

    1. An opportunity will be given to those who cannot travel to India before December 30, 2016 to exchange or deposit the specified notes till March 31, 2017 at specified RBI office by producing required documents. The limit to bring the cash is upto 25,000 INR (per person).

  53. Ideatic guidelines for NRIs. None of the method is 100% convenient. Stupid rules. Who will travel with in this period?.

  54. Sir, I’m working in money exchange in France. Our company have 15 lacs in OHD (500 & 1000). M’y boss doesn’t Know how to exchange. Please, give us your guidelines . Thanks

    Srinivassalou

  55. Would it be ok to simply send the demonetized bills directly to my bank via mail or courier and request them to deposit the funds into my NRO account? Please advise.

    1. No, currency can be exchanged in India either by personally tendering it or by sending it through an authorized representative to deposit it in the bank till 30th December 2016. In case you are sending money through someone, your representative must have your authorization letter and a valid identity proof.
      As per the RBI guidelines, an opportunity will be given to those who cannot travel to India before December 30, 2016 to exchange or deposit the specified notes till March 31, 2017 at specified RBI office by producing required documents

    1. As per the RBI Guidelines, if you are planning to travel to India before December 30, 2016 then you can bring the cash upto 25,000 INR (per person) and deposit it in bank.

      Another opportunity will be given to those who cannot travel to India before December 30, 2016 to exchange or deposit the specified notes till March 31, 2017 at specified RBI office by producing required documents

  56. Hii I am Kamlesh Anand I am planning to come in indiain the just want to kno can I change 500 and 1000 R’s on the airport.

    1. Airports will not accept the old Currency . You need to Deposit it in your bank account first and then you can withdraw the new currency.

  57. Sir, we are senior Indian citizens, on visit to Canada and USA till 1st week of January. As we need to attend a function, we can return only by 04JAN. Being Indian citizens, can we exchange old notes or credit to our bank account through RBI office on our return?

    1. As per the available information, another opportunity will be given to those who cannot travel to India before December 30, 2016 to deposit the old notes till March 31, 2017 at a bank specified by RBI office by producing required documents.

  58. Everyone is talking about the extended deadline for NRI’s until Mar 31, 2017 at specified RBI banks. However, NO such info. is posted at the RBI web-site. Can anyone provide the link to RBI or any Govt. site where this is declared or is it just an assumption or opinion of the people?

  59. For a person traveling to India, I understand that the limit of currency that they can carry is usually Rs 25,000 in Indian currency. In the given circumstances, the old 500 and 1000 rupee notes are no longer valid currency. Can they carry more than that limit?

    It is hard to find any friend that doesn’t have money of their own to carry. It is very difficult to find anyone to request them to carry more than their allocated quota.

    I hope the Indian government takes into account the difficulty for NRIs to get to their old notes to India within the tight timeframe. If there is no way specified, it will leave a bad taste.

    1. As per the available information, last date to exchange or deposit the old notes is March 31st , 2017 at specified RBI office by producing required documents. As of now, there is no information on further dates.

  60. I have left abt 3 lakhs with friends in Mumbai for my next trip which is due in Dec. I dont like carrying cash all the time so i keep leaving some on every trip. Can i deposit that 3 lakhs when i come without hassle?

    1. According to the information available, you can deposit 2.5 lakhs INR without any questions. You can deposit more than 2.5 lakhs but that money should not be unaccounted for or illegal. You may face enquiry about the source of the funds and it should match with your income.

  61. hello sir could u tell me please that NRI,’s can exchange their money up to 31march 2017 is 100% sure and this is not a fake news, because we didn’t get this news from any other gov source or website, if their is any other source for this news plz provide link and one thing more does pan number is necessary for that or not if we want to exchange money approx 2lakh.

    1. It was announced earlier that an opportunity will be given to those who cannot travel to India before December 30, 2016 to exchange or deposit the old notes till March 31, 2017 at specified RBI office by producing required documents.

  62. I am facing the same problem. I request everyone to write to The Prime Minister of India to extend the deadline. You can use his app or you can file a grievance on the Govt. Of India Grievances website. Write to Ministry of Finance

  63. How can I exchange my money I have Rs. 28000 I came from there in 2015 and I have no plan to go there before March 2017.

    1. Currency can be deposited in India either by personally tendering it or by sending it through an authorized representative to deposit it in the bank till 30th December 2016. In case you are sending money through someone, your representative must have your authorization letter and a valid identity proof. As per the RBI guidelines, an opportunity will be given to those who cannot travel to India before December 30, 2016 to deposit the old notes till March 31, 2017 at specified RBI office by producing required documents

  64. no information is there about can one carry 25000 rs for couple of other person with necessary letter etc and his 25000 limit also
    in fact this should be allowed
    so many people are asking so far no one answerer this

  65. Hi, I am a foreigner (with an OCI). I am planning to go to India in January, mainly to do repqir on our flat.
    I know that many people have a major problem to get cash now and cash is what I need to to necessary repair. If I go to an Exchange place at the airport how much INR (valid notes) can I get there? Do I need to bring cash in foreign notes or can I just use my visa-card?

  66. Dear Team
    It may be appropriate putting the RBI Zonal and Regional offices on site. Where they are situated statewise.

  67. If I bring cash of rs.10000 of old notes from usa, what action can be taken against me?? which precaution i shud take??

    1. As per the RBI Guidelines, you can bring cash upto 25,000 INR (per person), if you are planning to travel to India before December 30, 2016, you can deposit the amount in the bank.

      Another opportunity will be given to those who cannot travel to India before December 30, 2016 to deposit the specified notes till March 31, 2017 at a bank specified by RBI office by producing required documents.

      1. where exactly is this March 31, 2017 deadline date posted????????? Certainly it is NOT in the RBI.org.in site.
        They have no mention of the word “NRI” . They do do seem to acknowledge our existence.
        Is this MArch 31, 2017 information fake news?

        Where on the RBI website can this holy date be found?? PLEASE, someone give me the info
        Thank you

    1. As per the information available, you can bring cash upto 25,000 INR without declaration otherwise you need to declare it with customs and may face an enquiry.

  68. Hello! I change 4500 rupees in this site: http://india.neferma.com/
    Need send photos of your money, and this company deposit this money on your trading account, I create 20 trades, and all money company send me to skrill and neteller without any problems.

  69. Hello Sir,
    Where are the designated RBI offices in Punjab for the 31 march 2017 deadline?
    I will be visting Inidia in March 2017 and have INR26,000.
    Which RBI office will I be able to deposit this at in Punjab?
    Thanx

  70. Does any one know the list of RBI braches where you can go in INDIA and exchange old currency after 1st Jan, 2017?

  71. Can anyone share their experience after declaring cash greater than 25,000 at airport ? This will be really helpful for NRI’s who plan to bring in money.

  72. Hi
    OK, it seems that you can deposit the old notes till March 31, 2017 at specified RBI offices. However, can anyone please tell me which are the specified RBI offices in Punjab that will make this service available in Punjab. I have not been able to find this information anywhere. There seems to be Chandigarh as the only RBI branch covering that area. Is Chandigarh the only branch or are there any other offices in Punjab itself that will or are providing this service.
    thanx in advance

  73. >>>>deposit the specified notes till March 31, 2017 at a bank specified by RBI office by producing required documents.
    So, which are the specified RBI offices in Punjab?
    Can some please reply!!

  74. I have about Rs 40000 total from all the times we have visited India we are US citizens and don’t plan to visit India till at least dec 2017 what is the solution to this situation??? Flight tickets are more expensive and it is impossible for us to physically be there before march 31 and none of the friends traveling to India are agreeing to take the money wit them .. please extend the deadline !!! It’s our hard earned money that will go wasted kindly advise I’m sure there r tons of people in the same predicament

  75. so far i am not getting any answer to my question
    there is a limit of 25000 rs per person to bring to India
    if one brings other family members 25000 s with Id etc to be deposited in their account
    can they declare in the form on the arrival will it be allowed
    this person is only carrying other persons money which can be send through someone what will happen
    legally it is correct

    1. Let us all write our common grievance to this web site. Maybe the Indian Govt will open their eyes and see this stupid problem they have created for 0ver 4 million NRI s here in the USA itself.
      Please , all of you start writing.

    2. As per the RBI Guidelines, A person can bring upto 25,000 INR without declaration otherwise you need to declare it with customs.

  76. how can I deposit money in Reserve bank between January 2017 to march 2017?how much time it will take? Did I need to make appointment? what is rbi process would be? how much money I can deposit in one day ?where I can find rbi in India?what type of document I have to present in airport custom?

  77. I had opened an NRO account with a nationalized bank in early December because I needed to deposit some old currencies that I had kept with my relatives in India. When I visited the bank last week and tried to deposit in that NRO account I was unable to do so. The bank manager tried his best and then found out that since the account was opened after the demonitization decision the system doesn’t allow depositing old notes. He told that only old NRO accounts can take old currencies.

    Does anyone have similar experience? Is there anyone who opened NRO account recently and was still able to deposit?

  78. I am having around 10 notes of 1000 rupee left since my trip to India in March. I am going to visit India annually so I thought I had better keep some Indian rupee for my next trip.

    I have an Indian friend. How could I authorize him in India to make change for me?

    1. If you are sending money through someone, your representative must have your authorization letter and a valid identity proof to deposit the money in your account.

  79. Hello…i am travelling with my wife and 3 year old kid..is 25000 rupees per person include my 3 year old kid..we are 3 of us so can i take 75000 to india.

    1. As per the available information, An opportunity will be given to those who cannot travel to India before December 30, 2016 to deposit the old notes till June 30, 2017 at RBI office by producing required documents.

  80. What if I do not have NRO account and do not plan a visit to India? What are my options for exchanging the rupees ?

    1. As per the available information, An opportunity will be given to those who cannot travel to India before December 30, 2016 to deposit the old notes till June 30, 2017 at Specified RBI office by producing required documents.

  81. Hi sir
    I am traveling to India in Jan. I am not having nri account is it ok for me to exchange money in RBI.

    1. You need to open an NRO account and then deposit the old currency till June 30, 2017 at Specified RBI office by producing required documents.

  82. What about the minors? Will they allowed to carry back 25,000 INR or they will not be allowed to hold any money?
    Because everywhere it is written INR 25,000 per person so kids will be treated as one person or not?

  83. I am living in canada ,and i a planning to visit india in the month of october 2017, is it possible to change the the 500 notes at that time?

    1. As per the latest information available, An opportunity will be given to those who cannot travel to India before December 30, 2016 to deposit the old notes till June 30, 2017 at Specified RBI office by producing required documents.

  84. You keep mentioning about documents required for depositing the money in RBI bur what documents do you or will I need to show?can you please clarify this and also which city do I need to go for RBI in Punjab district?or are their any RBI in MUMBAI or DELHI? OR do you have to go in the district where your account is? please let me know asap.thanks

  85. Can u please provide a link to know the procedure to be followed by NRI’s for depositing their illegal tenders post 30december on arrival in India. Hv the noes to be deposited with RBI or can be deposited in NRE accounts after obtaining customs stamps on requisite format. If RBI then which RBI office in mumbai for western region.

  86. Hi,

    Need an advice as I have only one 500 Rs Note old Note and I am staying out of India. Can my Parents can deposit on my behalf since they had already visited in india between 1 nov 2016 to 30 dec 2016. My Sister has an NRO account in India can bank accept the old notes of Rs 500.

    And what is the Procedure from RBI to collect the old Notes for NRI.

  87. I am an NRI with about Rs.300,000 in India with my 86 yr old mother. She could not arrange to have the amount deposited in my NRO account there by the 30th Dec. . Can I deposit it through the RBI office when I visit her in March 2017? Or can an NRI deposit only Rs.25,000 in their NRO account?

  88. Very surprised to hear this announcement for NRI’s. I am not sure who is making such decisions without doing any home work and collecting advise from group of peoples.
    First of all, it is our hard money and someone made a non-sense decision and we have to follow. That will not happen. When Indian ministers come to US, we welcome them and support them. We NRI’s appreciate the progress of our Nation as an Indian though many of us are US citizens now.
    Coming to some of the real points: NRI Legal services can also clarify some of the points. Please comments!!!
    1. A per person limit to carry Indian currency is Rs. 25000/- (It did not say that kids under 18 (minor) are not allowed). This limit is per trip and not a life time. There is no such rule states that we can not save more than Rs.25K while in abroad (the only condition as I know is the limit is to carry cash is Rs. 25K) So some of us may have more than Rs.25K.
    2. Indian Govt. have allowed Indian citizens to deposit Rs. 2.5 lac in there account without any proof of documents. As the limit for NRI is Rs. 25K, Assuming standard family size (2 adults and 2 kids), NRI should be allowed to deposit at least rs. 1.0 lac in this scenario but this should not be the guidelines to set the limit as many of us may not have kids or still unmarried. But there should be a standard amount (like Rs. 2.5 lac for Indian citizens).
    3. As many people have pointed out that to deposit Rs. 25K (~=$370), no one is willing to pay $1000 in air tickets and each one has to take several days of paid vacations. Kids can not travel because of schools/college. So why NRI’s can not deposit the money to Indian Consulate in abroad? Why govt is not allowing State Bank of India (or other overseas banks) to accept currency in abroad? We have all legal documents to show them. The Govt. need to fix the max limit of currency a someone can deposit.
    On the safer side, money can only be deposit to NRO accounts.
    4. Why it is restricted to certain RBI offices? If someones native is far away from RBI office, then he/she need to waste time and money to travel to particular city for Rs. 25K. The people who made these decisions need to be a good thinker. Why an NRI can not deposit at custom in airport? There are so many ways to make this process smooth and Govt can avoid misuse of the facility providing to NRIs.
    5. Also, the Govt. should have open door for NRIs (there should not be any fix date like 31st of March or 30th June) that whenever NRI visit India, he/she should be able to deposit the money in NRO account (Just declare at custom the allowed amount).

    These are just some of the views. We need to collect views from others and then NRI cafe can help us to send our thoughts to Indian Govt. We should also consider to send collective views to RBI and to publish on PM Modi’s Twitter page. Please suggest your thoughts!!!!!!!

    Thanks

  89. Are OCI holders covered under the latest RBI Guidelines?
    From what I saw on their website, they only talk about Indian Citizens (resident or NRI).
    Also, is the declaration to custom officers essential? I did not know of this requirement when I arrived yesterday.
    Please help soonest.
    Thanks.

  90. Hi,
    I am a US citizen and holding OCI card. I am NRI too but as per the new RBI rule that NRI can deposit money till June 30th, 2017 is just for NRI’s and not for people like me who have taken US Citizenship and holding OCI card. Is my understanding correct?

    If this is correct, then we should post our concern to PM Modi’s Twitter website so that Govt.of India can come with some options for OCI card holder having US citizenship.

    Thanks

    1. your understanding is correct, you can’t deposit your money because you’re a OCI holder. I placed some comments on his twitter, but I am not sure where Modi or RBI will going to listen anything from NRIs. I think they don’t even care about NRIs.

  91. Hi!

    Article mentions that document is required from the Airport to prove that one was out of Country. What kind of document is required? Would the STAMP on the Indian Passport not be sufficient ? Do we need to fill out any kind of form or application and get it stamped at the airport ?

  92. I am going to India on worth Jan holding USA pass port can I carry 2500 rs nod note too and 1000 for exchange ok ok help me with answer
    Thanks

  93. As per RBI guide lines there are only 5 RBI offices mentioned where you can deposit these SBNs. There are no addresses given of these five offices.
    There should be more offices especially in cities with International Airports.
    Can RBI do more for the NRIs/PIOs

  94. As per RBI guide lines there are only 5 RBI offices mentioned where you can deposit these SBNs. There are no addresses given of these five offices. Please can you provide addresses of this offices.
    There should be more offices especially in cities with International Airports.
    Can RBI do more for the NRIs/PIOs

  95. As per latest RBIs FAQ (https://www.rbi.org.in/Scripts/FAQView.aspx?Id=122), this scheme is not applicable for OCIs and PIOs. PM Modi and RBI were never said that till december 31st, 2016 that 31st, december was kind of last date or opportunity for OCI/PIOs holder. I think it’s completly a miss communcation, can this group help to escalate this issue to RBI and GOVT?

    5. Is the facility for exchange of SBNs by NRIs available outside India?
    No. For NRIs the facility is available from January 2, 2017 to June 30, 2017 at five Reserve Bank offices at Mumbai, New Delhi, Chennai, Kolkata, and Nagpur. The limit of exchange for NRIs will be as per the relevant FEMA Regulations.
    6. Is the facility available to Overseas Citizens of India (OCI)/Persons of Indian Origin (PIO)?
    No, the facility is not available to OCIs/PIOs.
    7. Is the facility available to resident Indians?
    No, the facility is not available to all resident Indians, but only to those who were not in India during the period November 9, 2016 to December 30, 2016.

  96. @rajG123
    Unfortunately Oci’s are not considered as nri’s! We hold foreign passports.
    As some suggested, when NM visits we ought honour him with 500/1000 rupee note garlands.

  97. Comment…Sir I’m an Indian person I have forgot to exchange my 500rupee notes and I don’t have nor account …please can u advice me angry possible ways to get refund my money…..

  98. I’m not a Nri..
    My mom found out 9000 rs in her old purse…
    Yesterday….
    Now how can I change that….money

  99. Hi,

    I got my RBI form from Airport by declaring my old currency. QUestion is Can I deposit it in My saving account and not the NRO account?

    Thanks

  100. I am an Indian residing at China and will be travelling next month(February)..My money is in india…there is no one who can go and deposit my money…it 50,000/-..please guide me what should I do??…please someone reply.

  101. Guys, This sentence from RBI will calm most of you down. OCI and PIO card holders can just forget about exchanging their old notes now.

    Check out this latest update from RBI:
    https://www.rbi.org.in/scripts/FAQView.aspx?Id=122

    6. Is the facility available to Overseas Citizens of India (OCI)/Persons of Indian Origin (PIO)?
    No, the facility is not available to OCIs/PIOs.

  102. Hello there
    I will be coming to India in a month. My question is I dont have any NRE or NRO account. However my husband has these accounts but he will not be accompanying me. Can I deposit the money in his account.
    Please reply!
    Thanks.

  103. Hello there
    I will be coming to India in a month. My question is I dont have any NRE or NRO account. However my husband has these accounts but he will not be accompanying me. Can I deposit the money in his account.
    Please reply!

  104. Ma’am/Sir,

    I am raising 2 very specific issues for a person (Resident Indian), coming back to India from Abroad, who was not present in India during 8-Nov-16 to 31-Dec-16 (or say till date):

    Issue 1. The amount of Old notes he is carrying in his wallet.
    Issue 2. The old notes at his home/residence.

    Case for Issue 1: Although Govt. has provided Form for Deceleration of number of Old currency notes a person is carrying with him, on which the Custom officer at Airport will put a seal upon counting the declared notes. As this Form and the Notes will be exchanged at the RBI, my QUERY is that, after coming out of the AIRPORT, the Old notes person is possessing with him have NO VALUE … So how is he going to pay for Taxi or Transport Facility or for Stay facility??? [ Thus, to facilitate the person, the amount of declared notes should be exchanged by the Custom at the Airport itself ].

    Case for Issue 2: Other than the notes in his wallet, there may be some Old Currency (SBN) lying at his home, which he can count only on reaching his home. There is no provision by the Govt. for allowing such amount to be deposited by him to RBI. [SUGGESTION : Person should be allowed to declare some lumsum amount at Custom only, which he can later count the exact while reaching home. If amount found at home is less than he declared at Custom, he can be asked to submit another form at RBI for ease ]..

    As per the Commitment of Govt. of India, how so ever small amount of money this may be, but it is a hard earned money by a person, this need to be protected… For a check, an upper celing may be made by Govt.

    Kindly guide me further on the above stated issues.

    Thanks

  105. I arrived in Mumbai on 16th January. I am an OCI with British citizenship. I was told by he customs officer at the airport that old currency declaration is only for Indian citizens and not OCI. This is very unfair. Where do the OCIs exchange their old currency?

  106. Hi,

    I am an indian seaman. I left some 500,1000 rupees notes at home,I couldn’t contact my parents to deposit that money till 31 dec 2016. Now i am coming back to india before march, and i also got some 500,1000 rupees note in hand. Is it possible to declare the money which i left at home while i come to india?..Please suggest me.

  107. hello
    can anyone please reply that what will be the procedure if my money is in India at my home and I want to change it …I will be leaving from overseas on 11th

  108. We were under the confusion that NRIs and OCIs are in the same category? Could people with OCIs also change the notes until 30th June?

  109. My Wife travel to India on 3rd January 2017 with Old Currency Notes of INR 20,000/-. We are stying at Ahmedabad. we dont know the rules that we have to declare old currency notes on custom so we not declare. now how to change this currency in india.

    My wife dont have Pan card copy can bank accept my pan card & convert the old currency to new currency.

    I am still in Africa.

  110. Hi ,
    I am an NRI, I need an advise on how much of the amount I can exchange from the bank which I have saved in India.
    I use to save some amount here every year after coming back from Europe. Now I need to exchange that old notes.
    Please let me know the Limit which I can exchange from bank.

    Some websites says that there is no limit in exchanging old notes for NRI’s but there is still confusion as RBI employers are saying that only 25000 can be exchanged.
    Please suggest.
    Thanks

  111. Sir I am an NRI working in UAE.. i received rs 12 lacs in old currencies few months for a business settlement. Money is in India.
    How can I deposit the amount in account?

  112. No common sense used by Indian Govt when guidance is provided to deposit old notes for NRI’s only in five specific RBI’s in India. No consideration is taken how much inconvenience will be caused. Agree that declaration is needed to Customs. The arrangement should have been made at the Airport to get the new notes in exchange or to be deposited into some Indian Account. Who will face long queues, waste time and further travel for say ten to twenty five thousand rupees. Mr Modi wants India and Indian persons to be digital when arrangements cannot be made at the airport to assist the travellers from a long journey to assist their hard money to be credited to them when they need at the airport !

  113. Hi,

    I am an OCI living at US who has 25 thousand rupee notes. I have NRE/NRO accounts as well as PAN and Adhaar card.
    As per earlier RBI notifications, citizens of other country could also carry outside India Rs. 25000 per person (could be in 1000 or 500 notes also!)
    https://www.rbi.org.in/Scripts/FAQView.aspx?Id=66#q3

    Why then are OCI not allowed to cash their currency?

    We request you to please also extend the deadline for OCI subject to a one time limit per person of Rs. 25000 for people who were not at India in November/December.

    1. Here is my experience of my visit at the RBI counter in New Delhi yesterday , I am a US Citizen and a person of Indian Origin without a OCI/PIO card (regardless of whether i have one or not makes no difference in this situation). I travel frequently to India and always keep a small amount of money with me to avoid the hassle of exchange during my yearly visit. I had about 25K rupees in 500 and 1000 notes.Went to RBI counter in New Delhi yesterday the official turned me away saying i was not a NRI, but a foreign national who is not allowed to exchange any of this money, essentially is toilet paper. The line was huge and a lot of non NRI were turned away without much of an explanation.. Prior to my visit I also asked at the airport for a stamp as i had read online to do so, they said that foreign passport holder do not require one and that they have to go to RBI (just to hear the answer i posted). They dont even tell you at the airport that your trip will be a waste of time and money to get a refusal. Hope this helps you guys.

  114. Hi,

    While Rs. 25000 may not be a lot of money, most OCI’s are emotionally attached to India. Its also a question of credibility of Indian currency standards. OCI’s cannot trash the currency they have. The money they have is not necessarily Black money, but hard earned money which they carried with them outside India as per law!

    Indeed, arrangements at Indian banks abroad or Indian consulate is desired.

  115. Before December 2016 , Ami person can deposit any amount upto 2.5 Lakh and per Indian government instructions, NRI will be able to deposit after December 2016 to till March & now June 2017 , at that time Government did not mention anything about 25,000 Rupees limit . Then why government is telling RBI to limit upto 25,000 only? That’s not fair with an NRI people at all. first of all Government should have clarified before so NRI people could have made plans to come to Indua before December 2016 because now it does not make sense to spend to 1 Lakh rupees return ticket to come to India to deposit just 25000 INR. OUR P.M MR. MODI, GOVERNMENT OF INDIA AND RESERVE BANK OF INDIA SHOULD ALLOW NRI PEOPLE TO DEPOSIT UPTO SAME AMOUNT (2.5 LAKH ) WITH PAN CARD SO THEY CAN KEEP TRACK OF IT.

  116. Before December 2016 , ANY person can deposit any amount upto 2.5 Lakh and per Indian government instructions, NRI will be able to deposit after December 2016 to till March & now June 2017 , at that time Government did not mention anything about 25,000 Rupees limit . Then why government is telling RBI to limit upto 25,000 only? That’s not fair with an NRI people at all. first of all Government should have clarified before so NRI people could have made plans to come to Indua before December 2016 because now it does not make sense to spend to 1 Lakh rupees return ticket to come to India to deposit just 25000 INR. OUR P.M MR. MODI, GOVERNMENT OF INDIA AND RESERVE BANK OF INDIA SHOULD ALLOW NRI PEOPLE TO DEPOSIT UPTO SAME AMOUNT (2.5 LAKH ) WITH PAN CARD SO THEY CAN KEEP TRACK OF IT.

  117. NRI’s can change the notes with RBI in Delhi only?
    Can’t they change or deposit there money in their own city’s RBI counters?

  118. Hello,

    Thank you for the article. It is very informative. I do have a question: I’m currently living in US and have about 2.3Lacs here with me and about 2Lacs in India. Nobody else had access to that money so that was not deposited as well. Now I have a total of 4.3Lacs that needs to be converted. I can come to India and declare 2.3Lacs and deposit in RBI but how do I deposit the remaining amount? I won’t have any declaration for that amount?

    Thanks for your response in advance.
    Jay

  119. Here is my experience of my visit at the RBI counter in New Delhi yesterday , I am a US Citizen and a person of Indian Origin without a OCI/PIO card (regardless of whether i have one or not makes no difference in this situation). I travel frequently to India and always keep a small amount of money with me to avoid the hassle of exchange during my yearly visit. I had about 25K rupees in 500 and 1000 notes.Went to RBI counter in New Delhi yesterday the official turned me away saying i was not a NRI, but a foreign national who is not allowed to exchange any of this money, essentially is toilet paper. The line was huge and a lot of non NRI were turned away without much of an explanation.. Prior to my visit I also asked at the airport for a stamp as i had read online to do so, they said that foreign passport holder do not require one and that they have to go to RBI (just to hear the answer i posted). They dont even tell you at the airport that your trip will be a waste of time and money to get a refusal. Hope this helps you guys.

  120. All of us OCI’s should pool our money and file a court case against RBI and Finance Ministry for betrayal of trust. The PM’s speech as well as demonetization notification of 8th November were very clear that :

    SO3407(e) dt 8th Nov’2017 “(ix) any person who is unable to exchange or deposit the specified bank notes in their bank accounts on or before the 30th December, 2016, shall be given an opportunity to do so at specified offices of the Reserve Bank or such other facility until a later date as may be specified by it.”

    However, subsequently, PM and the finance ministry did not follow up to make this happen. This is betrayal of trust with an intent of getting special dividend from the RBI.

  121. The grace period does not apply to OCI / PIO holders? This is totally unfair. We need to lobby together through twitter and all other means to reach out the Indian Government.
    Pakistani nationals are allowed to retain their passports after they acquire the nationality of another country. But India does not allow dual nationality. But the way we have been excluded from the money exchange grace period is completely unfair.
    How do they expect OCI / PIO holders to trust the Indian Government in the future?

  122. OCI / PIO holders should get to exchange old Rs 500 and Rs 1000 notes during the 6 month grace period, similar to NRI’s.
    I have nearly Rs. 23,000 in my possession. This is my hard-earned money, I acquired through honest hard-work and putting in long hours at work. It will be painful if I lose my hard earned money like this.
    I expect to be treated fairly by the Indian Government. When RBI had published on various websites that extra time will be given to NRI’s who are abroad, I had believed this option will be extended to OCI and PIO status also.
    After acquiring Canadian citizenship, and OCI status in India, I still have attachment and strong ties with India. This will always be there. I still feel India is also my country in addition to Canada. My parents and relatives are settled in India.
    I am planning on business ventures with India, and plan to settle there, post-retirement. India gets a lot of foreign currency remittances from OCI and PIO status foreign citizens. Majority of OCI and PIO status foreign citizens have been Indian citizens in the past. These people are a big asset for India. India can reach out to us when needed. But the Indian Government needs to maintain the trust by treating us fairly.
    We feel disowned and being given the cold shoulder. This will create unnecessary bitterness among the Indian diaspora settled abroad.
    The reason why OCI and PIO status foreign citizens keep some Indian currency (around Rs 25,000) when they leave India, is to be able to pay for taxi fare, hotel and other expenses when they land in India the next time and come out of the airport. And not because we are laundering any black money or any other illegal activity.

    I would strongly request that the 6 month extension for exchanging up to Rs. 25,000 in old demonetized notes be extended to OCI and PIO status holders also, if they have not been to India after Nov 8, 2016. After we have declared the amount on the “Customs Declaration Form” and shown it to Customs officials who can count them at the Port of Entry, then the chance of any money laundering are slim to none.
    I support PM Mr. Modi’s quest to rid India of bribery, corruption and black money.
    I hope to be treated fairly by the Indian Government and be allowed to exchange my old demonetized notes after going through all the checks and measures as other NRI’s will be going through.
    OCI / PIO holders should get to exchange old Rs 500 and Rs 1000 notes during the 6 month grace period, similar to NRI’s.
    I will be deeply disappointed with the Government of India if the Grace period is not extended to OCI / PIO holders as well.

  123. The grace period does not apply to OCI / PIO holders? This clarification from RBI is completely unacceptable.
    This is like a highway robbery. This is cash grab from OCI / PIO holders around the world to fill Government coffers with ill-gotten money, and is short-sighted. Can we not be expected to be treated fairly by the Indian Government?
    I support PM Mr. Modi’s quest to rid India of bribery, corruption and black money.
    He is a fair dealing man who will treat us with honesty that we deserve.

  124. how can someone deposit the money if they don’t have an NRI/NRO account/ Please let me know the way out. if one is having more than 25000Rs, how can he deposit. Will the RBI accept it?

  125. I am residing in UK. But have Indian currency in India. I have not traveled to India after demonetization. It can be exchanged only when I go there.Do i need to produce money when I declare at custom? What is last date to exchange this currency?

  126. I m not able to go personally to RBI to exchange old Notes, can anyone else go on my behalf to RBI to exchange my notes

  127. Hello…I am an nri and I have old 500 and 1000 rupees note at my home in india….I will be visiting India next week….. how can I exchange those notes?

  128. We are preparing to file Class action lawsuit in the USA against RBI & India. We have 74 members so far ready to file lawsuit who are US citizens and US citizens of Indian descent who do not have OCI or PIO card.

    This is highway robbery. Next time when Modi comes to USA, we will NOT get any audience at all. He will become hero to zero. Everybody is mad. Why cannot Indian government allow citizens of the USA to convert Rupees at US embassy or consulate?

  129. Hello , Im in NRI and I had submitted old currency notes to RBI on 21st Jan . the money has not been credited in my bank account yet. how do I track the process ?

  130. Hello sir

    I want to know i am working in singapore during note ban period now i return india i have 5 lac indian currency at home. Can i submit it RBI. Many people say only tourist visa holder can change his note. Work permit guys not eligible.
    Sir plz suggest its very hard working money how i can exchange. Plz contact me if u havw any soluation..

  131. I would like to know if NRI who had visited India in Dec.16 can now deposit his monies in 500 & 1000 rupee notes in his NRI / NRO account by authorising his inlaws.

  132. What about the people who travel overseas for long term more than one, two years, how can they exchange within the short span of time 6 months notice, this is totally injustice.

    RBI should provide at-least two years of time or NRI’s.

  133. hello,

    I am an NRI. We were in India from November 5th to November 17th 2016 (before the demonetisation announcement). However we did not bring the indian currency with us since it was an official all paid trip. Now as per the rule it says only people who were not present in India can exchange the money. What do I do ? I am travelling to india soon. How can i exchange my notes.

  134. i am an nri (uk), my last visit at india was before 500/1000 note band. i leave 70000 rs. at that time. now i just came yesterday. please suggest a procedure for exchange.

  135. which form to be filled out- arriving at Ahmedabad international airport on May 23rd 2017. I have NRO account and will be bringing Rs, 21000 in old 500 and 1000 notes. does Custom office fill out and stamp the form?

  136. Hello…I am an nri and I have old 500 and 1000 rupees note at my home in india and I can not give authorization to any other person who can exchange money on my behalf in India….I will be visiting India on 25th Feb 2017….. how can I exchange those notes ?Do I need to give any declaration in Airport the amount of money which I have at my home in India before leaving airport.or do we have any other guidelines for this?

  137. Hi

    Do you have RBI in uk? I have 19000 rupees, not able to travel to india soon,
    don’t know anyone who is travelling to india.
    any suggestion??

  138. sir,
    I am holding Indian Passport and my Nationality is Indian and drawing Central government Pension for which Life certificate is issued by Indian Embassy, Washington DC every year. I am Green Card holder since September, 2014. And visiting India every year. But in 2015 I could not travel because I was taking care of my 6 months old grandson in Maryland, USA. I left on 5th November, 2016 to USA. But withdrew 1 lake for painting and minor repair works and waited for the painter to carry out the work. But due to his sudden personal problems he did not. He just called me and agreed for the work to start in Feb, 2017 as I had planned my next visit in Feb, 2017 to attend my nephew’s marriage. I could not deposit the money. So I kept at my home locker so as to use that for the same painting work. This sudden demonetization turned everything upside down. I wen to the RBI along with proper documents(passport, entries of immigration on both onward and return, Pan card, Aadhar card, both bank statements for the withdrawal etc). But the RBI refused to exchange the full money. They said my money is restricted to only Rs. 25000/- saying I am a Permanent Resident of USA(Green card) even though I am holding all Indian documents etc. They advised me to write to PMO for this. I am totally shattered. This is my hard earned Pension money and I am the only bread winner for MYSELF. I request you to kindly help me.

  139. In ontinuation of my previous online mail, I normally keep up to Rs. 50000/- for my immediate needs/medical expenses. This I am doing for the past 20 years since I am a glaucoma Patient and residing with my parents aged 95 Nd 84 whenever I am in India and they go to my brother’s house when I leave India. I visit them every yeR and keep them with me during my stay. They too have healh issues and so I keep some reserve for immediate use. Hope you could help me in this regard. I am yet to write to PM’s office.

  140. Hello, My Cousin recently came from USA but he was not knowing the procedure to exchange the old currency notes and did not even declared that he has got 23,000 Rs old currency notes, please tell me what can be done….

  141. If you don’t have Indian passport there is no method today for you to convert this money. Only Indian passport holders are allowed to declare/stamp defunct notes at arrival.

    You just got screeed by chaiwala.

    Send your grievances to sbnrepresentation@rbi.org.in

  142. I just came back to india on 27th January 2017, till then I was working in abroad for two years. I have Rs.50k old currency notes. I could not deposit before 30th December 2016. I stay away from the specified RBI. Can I send the old currency to RBI through post?

  143. We should file a collective lawsuit against the Government of India. We had abided by the law in having up to Rs. 25,000 in our possession. We were promised equality with NRI’s on economic matters when we applied for and received our OCI (Overseas citizens of India) status. This discrimination of allowing NRI’s to exchange the demonetized Rs. 500 and Rs.1000 while dis-allowing OCI (Overseas citizens of India) status people is against the law by the Government of India. We were honest and abided by the law. Yet we were illegally robbed by the Government of India.

    This is injustice towards “OCI (Overseas citizens of India) / PIO(Person of Indian Origin) holders” by the Government of India.
    When RBI had published on various websites that extra time will be given to NRI’s who are abroad, we had believed this option will be extended to OCI and PIO status also.

    We request that “OCI (Overseas citizens of India) / PIO(Person of Indian Origin) holders” be allowed to exchange old Rs 500 and Rs 1000 notes during the 6 month grace period as NRIs upto Rs. 25,000.

    All we ask for is justice.

  144. Hi
    i am a indian holding a canadian passport and an OCI i travel once a year to India i have Rs 12000 in old currency iwent to RBI and was told only indian passport holders can change their money so what do we do with that currency where can i go to to change this currency ur advice will be helpfull
    Renu

  145. My cousin is having around 2lacs at India only… N he is visiting India for depositing such amount..
    Which documents will be required ??

    what is NRI according to RBI ? As he is abroad since a year but having Indian citizenship. Not visited India during last 12 months. Which is last date for him ??
    31st March or 30th June ???

  146. I alredy submitted money before 1 and half months ago old currency in RBI when will I get my money bak in my account

  147. Hello …I am mariner’s wife…my husband is in merchant Navy .This time I also was vid him on ship at the time of demonitisation but wen we back we forget to get declaration form from the airport at the time of landing…n now RBI don’t accept old currency vidout form …. plz suggest what we can do now…me my husband n my kid my whole family was out at that time… thanks in advance

  148. I had my old currency notes kept in the bank locker when I left India to Dubai. Since I was not carrying any SBN’s upon my return to India from Dubai I wasn’t able to get the customs declaration form. Is there any chance that the RBI will still allow me to deposit the cash based on the stamps on the passports and my bank statement?

  149. my cousin brother from New Jersy with family having international passport. they landed in march 2017. they have old currency around 35000/- how can i exchange .

  150. Hey friend… I am UK resident. I recently reached india from UK and I have already 3 lakh inr in my apartment that I kept for maintenance and I could not make is due to some hard issues and flew back to UK. I want to exchange them. As for as I know government has given deadline till 30th of June for NRIs… What are the procedure? Please guide me..?

  151. Very interesting fact
    But I want to know that how can any person deposit old currency if he came into India before Two month

  152. It’s been 3 months since i deposited cash at RBI Mumbai. I have not yet received credit to my account.

  153. I have deposited old notes of value Rs.1,48,500/- on 28.2.2017 at RBI chennai vide tender receipt No. CHE 007297 dated 28.2.2017. So far I have not received any intimation of the status.

  154. Hello! First of all, thank you very much for such insightful information on the procedure. Here is my query:

    I traveled back to India from Kuwait on 3rd May. At the Red Channel, at Customs, they denied to issue me any certificate as the officer said “We are no longer authorized to issue certificates for exchange of currency and you will have to go to RBI office directly, till 30th June”
    Now, what all documents do I need to carry with me?

    Thanks!

  155. Hello, I wanted to know how do i deposit the old ₹ 1000 to my NRO account when I visit to India this month (May 2017). I understand that I have to declare the cash at the airport. however, my old notes (₹45000) are in India.

    Will RBI allow me to deposit without any Customs Declaration form? I can’t fillout the form since I will not be able to carry old notes which are in India.

    Appreciate your reply at your earliest. Thank you.

  156. I have come to India after a long time and already have currency notes in India(50000 total) which I could not exchange. What will be the procedure for exchanging these notes. Can these be exchanged till june 30th?

  157. What can be done…i m a private teacher and i find that there is some money is not exchanged by the last date of note exchange..and this is painful moment for me that i found it after last date in my almirah..then what to do next to exchang this..i cant bear this one to going scrap..its my hard work money…plz tell me what i do..

  158. I am living in Norway and coming to India in July. I have some 500 Rs old notes which has to be changed. How can it be done ? Can you please help me with this?

    1. I can easy help you you have to pay for the cost of change rate i will personally be in contact with your manager from the india bank.

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  160. I have 500 rupee notes 16 which we had forgotten and kept in a safe.
    We live in USA and want to know how to exchange it.
    My friend said she also have RS 10,000 which are all small amounts but cash with no use.
    Please advise. Thanks, NRI

  161. My maternal uncle working in Dubai, yesterday returned home but could not have oppertunity to convert the old notes into new one. Hence, he searching frantically to find an option to convert the same. Although the amount is very minimal Rs. 9500/- (in old currency notes), but it was hard earned money. Please give an advice in this regard!!!

  162. I have around 16 old notes of Rs 500 denomination in india and could not exchange due to my busy schedule in US.Can I exchange now? I am coming to India in October 2017 .I am coming to India for the first time after note ban.

      1. Has anyone been able to convert the old bills to new ones if they haven’t traveled to India after Demonetization? I’ve a similar situation–going to India this week first time after note-ban.

  163. Sir,
    We have also a problem.when my father died we didn’t know about the money which my father keep old money cash in our village.and we exchange old money of our but when we got to know about old money which my father keep it in village.when we went to village..and now we were also not know about the last date of july.what should we do now.what should we do with that money now.we found 500-1000 rupee.we live in town and rarely went to village in our festivals.but now when we went we got to know about this but its late.should we find any chance for it??

  164. Hi,
    I am currently in USA and haven’t visited India since last 1.5 years. I have my old notes at my home in India. I am going to India in Dec 2017. Please suggest how can I get my old currency converted to new ones. I believe, I have approximately Rs. 50,000 in my locker at home.
    Please suggest.

  165. Can a NRI coming first time to India after demo, can still deposit / declare currency notes at the Delhi airport?

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