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Still have Old Notes? Dont worry, you wont have to throw them away.
Still have Old Notes? Dont worry, you wont have to throw them away.
There are still some ways to have your old currency notes of 500 and 1000 exchanged with new ones. Read below to know how easily you can replace your old currencies with new ones even after December 2016. MIND IT: You can not exchange it after March 31 2017
Indian Government has banned currency notes for 500 and 1000 in order to eliminate black money. Recently, government has extended time period for exchanging old notes that means, you can exchange your notes even after the 31 December 2016.
RBI issued statements which offers to exchange old notes of Rs. 500 and Rs.1000 from the specified branches of Central banks. RBI also specified that you can not exchange your old notes from commercial banks but can exchange from the specified branches of RBI( New Delhi, Mumbai, Kolkata, Nagpur).
Do you still have them? Do you want to exchange them with new notes of 500 and 2000?
If Yes, just have a look at the simple things that need to be done in order to get your notes replaced.
Who can exchange old notes?
Person who was not in India during November 9 to December 30 has been given a 3-month grace period to deposit the junked notes, while for the NRIs, it is 6 months.
If you are non-resident Indian citizen and you were abroad during 8 November 2016 to 31 December 2016, you can exchange your old notes till 30 June 2017. However, this facility is not available for the Indian citizens who are in Pakistan, Bhutan, Bangladesh and Nepal.
If you are the resident citizen, you can exchange notes till 31 March 2017. This facility can be availed only on the individual capacity and only one time during the period.
Documents required:
You have to submit following documents to exchange your notes:-
- Original Passport for verification.
- A copy of passport along with immigration documents as a proof that you are not in India during 8 November 2016 to 31 December 2016.
- This tender should be accompanied with a valid ID proof like voter ID, PAN card, Adhar Card etc. including your Know your Customer (KYC) compliant bank account details.
- A copy of a statement of bank accounts.
- A declaration that you did not avail this facility earlier.
You can use this facility by submitting the necessary documents and documentary evidence showing that you were out of India in between the period of November 9, 2016 and December 31, 2016.
The documents have to be verified by the RBI officer. When the notes are proved original and your absence in the country is acknowledged to the satisfaction of such officer, the corresponding amount would be credited to your account. RBI will not accept any third party tender under this facility.
