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Public Advisory, Deposit of old Series Indian Bank notes of Rs. 500 and Rs. 1000 Denominations

Government of India through a gazette notification S.O. 4251 (E) dated 30 December 2016, has announced that all Indian Citizens who were outside India from 9 November 2016 to 30 December 2016, shall be given opportunity to deposit their old series Indian Bank notes of Rs. 500 and Rs. 1000 denominations (Specified bank notes -SBNs) at the specified Issue Offices of RBI until 31 March 2017. For those citizens of India, who are not resident in India (NRIs), this facility would be available till 30 June 2017 in order to allow them adequate time to plan a visit as per their convenience.

The above 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.

Jan. 12, 2017

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