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  Canada Immigration Forum > General > Our Native Country! > Rs 500 and Rs 1,000 notes pulled out of circulation immediately in India !
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Rs 500 and Rs 1,000 notes pulled out of circulation immediately in India !




shobhade
Desi
Member since: Aug 16




Posts: 57
Location:


Quote:
Originally posted by rajcanada

Quote:
Originally posted by shobhade

If you are OCI or PIO holder, you can't even do that .What a foolish rule .

Only NRI's who are on Indian Passport with Indian citizenship are allowed.

Foreign citizens on Foreign passport, with OCI or PIO card are not allowed to deposit

All OCI and PIO should complain about this ! They want FDI from us, but the same rules like NRI don't apply to us.

OCI and PIO are not NRI's. Lot of people forget that and are confused. OCI, PIO, NRI, Indian resident, so much rubbish and confusion.

Note ban: Grace period for exchange doesnt apply to PIOs/OCIs

http://timesofindia.indiatimes.com/india/note-ban-grace-period-for-exchange-doesnt-apply-to-pios/ocis/articleshow/56431219.cms</font>


Only residents of India are allowed to take Rs. 25,000 out of India, so they are being allowed to deposit the old notes up to that limit. Foreign citizens are not allowed to take Indian Rupees out of India. It is another matter that for convenience people do take it outside India as India is still majorly cash based economy.



Not true. OCI and PIO can definitely take Rs. Out of India and bring them back into India, within the limits.

Both RBI and customs site mention that.

So its not just NRI's who are residents of India, who can take Rs. Out of India.


 
Post ID: 233728 14-01-17 02:01:44
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