Foreigners can change forex for Indian currency up to Rs 5,000 till Dec 15: RBI
Foreign citizens can exchange foreign currency for Indian notes up to a limit of Rs 5,000 per week till December 15, the Reserve Bank of India (RBI) said on Friday.
While exchanging the notes, the foreign passport holder will have to submit a self-declaration that the facility has not been availed of during the week.
"... It has been decided that foreign citizens (foreign passport holders) can exchange foreign exchange for Indian currency notes up to a limit of Rs 5,000 per week till December 15, 2016...," the central bank said in a notification.
ALSO READ: ATMs will be re-calibrated with new Rs 500, Rs 2,000 notes within 2 weeks: Arun Jaitley
Following cancellation of legal tender character of old Rs 500 and Rs 1,000 notes, the government and RBI had announced a host of steps to help people deal with the cash problem.
Holders of such currency were given options to either exchange the notes or deposit in their bank accounts.
Certain exemptions have also been given where the invalid notes could be used for transactions.
ALSO READ: Govt extends exemptions on use of old Rs 500 note till December 15
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
RECOMMENDED STORIES
Senior Citizen Latest FD Rates: Know what major banks like SBI, PNB, Canara Bank, HDFC Bank, ICICI Bank are providing on fixed deposits
Gratuity Calculator: Rs 38,000 as last-drawn basic salary, 5 years and 5 months of service; what will be gratuity amount?
EPFO Pension Schemes: Early pension, retirement pension, nominee pension and 4 other pension schemes that every private sector employee should know
Top 5 Small Cap Mutual Funds with best SIP returns in 1 year: See how Rs 25,000 monthly investment has grown in each scheme
Top 7 SBI Mutual Funds With Best SIP Returns in 1 Year: Rs 25,000 monthly SIP investment in No.1 fund has jumped to Rs 3,58,404
10:40 AM IST