Banner ADVISORY FOR PERSONS CURRENTLY NOT IN INDIA HOLDING INDIAN CURRENCY IN 500 & 1000 DENOMINATIONS

ADVISORY FOR PERSONS CURRENTLY NOT IN INDIA HOLDING INDIAN CURRENCY IN 500 & 1000 DENOMINATIONS

1.        I am right now not in India, what should I do?
If you have Specified banknotes in India, you may authorise in writing enabling another person in India to deposit the notes into your bank account.  The person so authorised has to come to the bank branch with the Specified banknotes, the authority letter given by you and a valid identity proof (Valid Identitiy proof is any of the following: Aadhaar Card, Driving License, Voter ID Card, Passport, NREGA Card, PAN Card, Identity Card Issued by Government Department, Public Sector Unit to its  Staff)

2.        I am an NRI and hold NRO account; can the exchange value be deposited in my account?
Yes, you can deposit the Specified banknotes to your NRO account.

3.        I have no account but my relative / friend has an account, can I get my notes exchanged into that account?
Yes, you can do that if the account holder relative/friend etc. gives you permission in writing. While exchanging, you should provide to the bank, evidence of permission given by the account holder and your valid identity proof.

4.        Should I go to bank personally or can I send the notes through my representative?
Personal visit to the branch is preferable. In case it is not possible for you to visit the branch you may send your representative with an express mandate i.e. a written authorisation. The representative should produce authority letter and his/her valid identity proof while tendering the notes.

 

 

Nov 10, 2016
 
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