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RBI announces facility for NRIs to exchange old notes

RBI came out with conditions for exchange of defunct notes for those, including non-resident Indians, who failed to do so till yesterday, the last day for depositing the invalid currency notes in banks.
●    Resident Indian citizens who were abroad from November 9 to December 30 can avail this facility up to March 31, 2017 and NRI citizens, who were abroad during this period, can exchange their defunct notes up to June 30, 2017, RBI said in a late evening statement.
●    Citizens can avail this facility in their individual capacity once during the period on submission of ID documents, and on submission of documentary evidence showing they were abroad during the period and that they have not availed the exchange facility earlier.
●    On fulfillment of the terms and conditions and the genuineness of the notes tendered, it said, adding admissible amount will be credited to the tenderer's KYC compliant bank account.
●    This facility will be available through Reserve Bank offices at Mumbai, New Delhi, Chennai, Kolkata and Nagpur.

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