About Us News

Deposit or exchange of old series of banknotes of Rs 500 and Rs 1000 denominations

Back | Print

According to ‘Specified Bank Notes (Cessation of Liabilities) Ordinance, 2016’ dated 30th December 2016, the facility of deposit or of exchange of old series of banknotes of denominations Rs 500 and Rs 1000 at the specified Issue Offices of RBI has been granted to all Indian citizens who were outside India from 9 Nov- 30 Dec 2016 until 31st March 2017. For those citizens of India who are not resident in India, this facility would be available till 30 June 2017 in order to allow them adequate time to plan a visit as per their convenience.

The above facility would be subject to the regulations 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.