About Us Important Notice/Alerts
  • Home ›   Important Notice/Alerts

Exchange/deposit of old series Indian bank notes of Rs. 500 and Rs. 1000 denominations

Posted on: January 19, 2017 | Back | Print

Embassy of India

Rome

***** 

Public Notice

 

To provide an opportunity to Indian citizens who were unable to exchange or deposit the old series Indian bank notes of Rs. 500 and Rs. 1000 denominations (specified bank notes – SBN) in their bank accounts on or before 30 December 2016,  have been given another opportunity to do so in the following two instances:

 
(i)         Indian citizens, who were outside India from 09 November to 30 December 2016, have been given a facility to tender the old series Indian bank notes of Rs. 500 and Rs. 1000 denominations (specified bank notes – SBN) at the specified issue offices of Reserve Bank of India (RBI) until 31 March 2017.

 
(ii)        Indian citizens, who are not resident in India, have been given a facility to tender the old series Indian bank notes of Rs. 500 and Rs. 1000 denominations (specified bank notes – SBN) at the specified issue offices of Reserve Bank of India (RBI) until 30 June 2017.

 
2.         The above facility would be subject to the regulation of the notification ‘Foreign Exchange Management (Export and Import of Currency) Regulations, 2015’. As per these regulations bringing back such currency into the country is restricted to Rs. 25,000/- per person. Separate FEMA provisions are applicable to persons in Nepal and Bhutan, which would continue to apply.

 
3.         The link to the Press release issued by the Department of Economic Affairs in this connection is:http://dea.gov.in/sites/default/files/PressRelease30122016.pdf

 

*******