Indian citizens who were abroad during November 9, 2016 to December 30,
2016 can avail this facility upto March 31, 2017 and Non Resident Indian
citizens who were abroad during November 9, 2016 to December 30, 2016 can
avail this facility upto June 30, 2017.
there is no monetary limit for exchange for the eligible Resident Indians,
the limit for NRIs will be as per the relevant FEMA Regulations. They can
avail this facility in their individual capacity once during the period on
submission of ID documents, such as, Aadhaar number, Permanent Account
Number (PAN) etc, and on submission of documentary evidence showing they
were abroad during the period and, that they have not availed the exchange
facility earlier, Customs certificate about import of SBNs by NRIs etc. No
third party tender will be accepted under the facility.
fulfilment of the terms and conditions and the genuineness of the notes
tendered, admissible amount will be credited to the tenderer’s KYC
compliant bank account.
facility will remain open for residents from January 2, 2017 to March 31,
2017 and for NRIs from January 2, 2017 to June 30, 2017.
facility will be available through Reserve Bank offices at Mumbai, New
Delhi, Chennai, Kolkata, and Nagpur.
citizens resident in Nepal, Bhutan, Pakistan and Bangladesh cannot avail
person, aggrieved by the decision of the Reserve Bank may prefer an appeal
to the Central Board of the Reserve Bank within fourteen days of the
communication of such refusal to him. Such representations may be addressed
to the Central Board, Reserve Bank of India, Secretary’s Department,
Central Office Building, 16th Floor, Shahid Bhagat Singh Marg, Mumbai – 400
facility has been introduced in terms of Section 4 (1) of the Specified
Bank Notes (Cessation of Liabilities) Ordinance, 2016 of the Government of
India dated December 30, 2016 read with Notification S.O. 4251(E) dated
December 30, 2016.
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