Old notes: RBI closes window for Indians abroad; NRIs can exchange till June 30

Nagaland: Chartered jet flier held with Rs 3.5 cr in old notes
Nagaland: Chartered jet flier held with Rs 3.5 cr in old notes

NEW DELHI: The limited period window for exchange of junked Rs 500 and Rs 1,000 notes by Indians who were abroad ended today with many failing to do so because of limited counters and lack of procedural awareness.

However, additional time period of three months is available to non-resident Indians (NRIs) with a rider of exchange of Rs 25,000 per individual. The exchange window for NRIs will close on June 30.

Long serpentine queues of people were seen outside five RBI offices in Mumbai, Delhi, Kolkata, Chennai and Nagpur — the designated offices for exchange of scrapped notes — today.

People had to travel long distances due to limitation of designated branches to deposit scrapped currency notes.

In many cases, people had to wait for 6-7 hours and in some cases it took days for exchange due to lack of required documents. (AGENCIES)

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