Hyderabad: NRIs on Thursday demanded that the government issue directions to the branches of Indian banks situated abroad to allow exchange of Rs 500 and Rs 1,000 notes.
Chairman of the Gulf-based Pravasi Bandhu Welfare Trust K.V. Shamsudheen said, “The government allows Indians travelling abroad to carry Rs 10,000. Many NRIs carry Indian currency when they return from India to work abroad after a vacation. The purpose of carrying Indian currency is for emergency use when they return home.”
These NRIs are not in a position to exchange the old notes. “We request to the government to permit branches of Indian banks to accept old currency from NRIs and issue new currency.”
NRI associations have written to Prime Minister Narendra Modi and also the RBI Governor on the matter.
