Monday 2 January 2017

To Exchange Old Notes, NRIs Need To Get Form Stamped From Customs

New Delhi:

NRIs need to show junked notes to Customs officials at the airport
They have to get declaration form stamped by the officials
The declaration will have to be submitted at RBI's specified branches.

NRIs and Indian nationals abroad can deposit up to Rs 25,000 of the demonetised currency during the 3-6 month grace period, but only if they show the junked notes to Customs officials at the airport and get declaration form stamped.

The declaration will have to be submitted at specified branches of the Reserve Bank while depositing the junked currency, a finance ministry notification stated.

While the 50-day window for such deposits at banks or post offices ended on December 30, the government has offered a grace period for those who were abroad.

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