Posted on: 18-02-09 14:17:35
Does anyone know if it is possible to go to a bank in India and get forex (convert Rupees to foreign currency) once you become an OCI. If so, what documents do you show the bank (if any) ?
Obviously with an Indian passport, this is not a problem.
Quote:I'm not so sure.
Originally posted by yellowknife
Obviously with an Indian passport, this is not a problem.
During my previous two trips to India, both times banks have refused to give me foreign currency in exchange of Indian rupees.
According to them, once you are a non resident (regardless of passport type), you can only obtain INR in exchange of foreign currency and not the other way around.
The same story has been told to me independently by bank, Thomas Cook and a couple of major travel agencies that deal with currencies.
So now, I simply carry along some CAD or USD that I might need on my return journey instead of obtaining foreign currency in India.
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I was always able to get the foreign money in exchange of INR at the airport, on my way back to Canada or the US - they never asked my resident status, just noted my passport details. But I have never tried this with my Cdn passport.
Quote:
Originally posted by pratickm
Quote:I'm not so sure.
Originally posted by yellowknife
Obviously with an Indian passport, this is not a problem.
During my previous two trips to India, both times banks have refused to give me foreign currency in exchange of Indian rupees.
According to them, once you are a non resident (regardless of passport type), you can only obtain INR in exchange of foreign currency and not the other way around.
The same story has been told to me independently by bank, Thomas Cook and a couple of major travel agencies that deal with currencies.
So now, I simply carry along some CAD or USD that I might need on my return journey instead of obtaining foreign currency in India.
Thanks for the responses guys. I have had instances (both at banks and at forex places at the airport or other places in India) where they don't even ask to look at your Indian passport sometimes. But in most cases they do ask to look at your passport.
I was just trying to find out if anybody had been able to buy forex in India using their OCI card/paper or whatever they provide. I guess the answer is NO.
Thanks
One should be able to get foreign currency if he/she is using the money lying in a bank account since he became a foreign national.
One is also able to get foreign currency if he is able to show a documentary proof that he had originally converted foreign currency in to Indian rupees earlier to meet his expenses or what so ever.
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Chandresh
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Originally posted by vondesiong
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