Wednesday , September 20 2017

Indian foreign residents rushing to RBI to exchange scrapped notes

Scrapped notes

The Indian citizens who were in abroad during demonetisation are changing the old notes now, as the deadline for them extends on March 31 and people are waiting in queues at RBI offices.

New Delhi:The Reserve bank of India is witnessing huge queue as the deadline for the exchange of demonetised notes is going to close on Friday and the citizen who were in the overseas during the note ban.

The residents are standing in a queue at the Reserve bank of India office in the national capital from the night itself in order to deposit the scrapped notes.

The citizens of India who are in abroad during the demonetisation i.e. during Novemeber-2016, the RBI allowed them to exchange the demonetised notes upto March 31 and for the NRIS it has given the deadline to June 30.

RBI allowed the citizens to exchange the scrapped notes at the RBI offices in Chennai, Kolkata, Nagpur, Mumbai and Delhi. Still, there are many people who have not exchanged the demonetized notes and the deadline to exchange the demonetised notes was ended on December 30. People are making efforts to exchange the notes.

A US-based NRI ,Nikhil Kapoor told the reporters “Since I am here in India for a short visit, I thought it would be prudent to finish with the RBI work on the first day itself. Therefore, I have come here directly from the airport.”

He felt that given the queue, it seems impossible that the currency could be exchanged in a day.

Another foreigner Ram Kumar, from Dubai, said: “There was no information about Red Channel procedure at the airport and I did not get the Customs certificate. So, I am being turned away after standing in the queue for six hours.”

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He also suggested that the Reserve bank of India should have made proper provisions for checking the documents of the citizens who are in the queue, by that they can eliminate the people who are not carrying all the papers.

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