Facility to exchange or deposit demonetized old series Indian bank notes extended for NRIs

As was notified on 8 November 2016, those persons who were unable to exchange or deposit the old series Indian bank notes of Rs.500 and Rs.1000 denominations (specified bank notes – SBNs) in their bank accounts on or before 30 December 2016 shall be given an opportunity to do so. Accordingly, Ministry of Finance, Government of India through a gazette notification S.O. 4251 (E), dated 30 December 2016 has announced that this facility would be available to all Indian citizens who were outside India from 9 November 2016 to 30 December 2016 to tender these SBNs at the specified Issue Offices of Reserve Bank of India until 31 March 2017. For those citizens of India, who are not resident in India, this facility would be available till 30 June 2017 in order to allow them adequate time to plan a visit as per their convenience. Further details in this regard are available in the Press Release issued by Department of Economic Affairs Ministry of Finance on 30 December which can be accessed at