Embassy of India
Facilities for NRIs to deposit the Specified Bank Notes (SBNs) till 30 June 2017
- Ministry of Finance, Government of India, through a gazette notification S.O.4251(E) dated 30 December 2016, in exercise of the powers conferred by relevant provisions of the Specified Bank Notes (Cessation of Liabilities) Ordinance 2016, has announced that the facility to tender SBNs at the specified Issue Offices of Reserve Bank of India, would be available till 30 June 2017 to those citizens of India, who are not resident in India, in order to allow them adequate time to plan a visit as per their convenience.
- It may also be noted that this 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. Separate FEMA provisions are applicable to persons in Nepal and Bhutan, which would continue to apply.
- With reference to the above, a copy each (attached herewith) of the following notifications and Press Release issued by Department of Economic Affairs, Ministry of Finance, Government of India may kindly be referred :
- Specified Bank Notes (Cessation of Liabilities) Ordinance, 2016 of 30 December 2016;
- Notification S.O.4251(E) dated 30 December 2016; and
- Press Release dated 30 December 2016.
Notification : Click Here
Press Release : Click Here
Ordinance : Click Here