Author Neha Joshi

NRI Guides
2017 Guide: How NRIs can change their old 500 and 1000 Rupee notes

NOTE: This article has been updated on 27 January 2017  to reflect the only applicable option and detailed requirements for the same. The sudden announcement about withdrawal of 500 and 1000 Rupee notes has left many NRIs abroad looking for answers as to how could they get their old 500 and 1000 rupee notes exchanged. As of 2 January 2017, options such as exchanging currency at foreign branches, exchange houses, airports etc are not applicable any more. The deadline for depositing to NRO accounts was 30 December 2016. Option available till 30 June 2017: Deposit at RBI office Now, the only available option is to deposit the money via Reserve Bank of India (RBI) offices. RBI on 31 December 2016 announced in a notification that it will introduce a facility for exchange of old specified bank notes for Indian residents and NRIs, who were abroad from November 9 to December 30. According to a RBI notification, Indian…

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