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RBI Closes Window for Indians Abroad; NRIs Can Exchange Till June 30

RBI Closes Window for Indians Abroad; NRIs Can Exchange Till June 30
April 01
17:52 2017

The Reserve Bank of India (RBI) has closed the window to let Indians who were abroad during the 50-day period of demonetisation deposit the now-illegal cash.

However, additional time period of three months is available to non-resident Indians (NRI) s, with a rider of exchanging of 25,000 rupees per individual. The exchange window for NRIs will close on the 30th of June.

NRIs coming to India are required to come through Red Channel disclosing to the Customs authorities at the airport the amount of now-defunct notes and secure a certificate to be tendered at the RBI at the time of exchange.

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