Important Notice/Alerts
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Exchange/Deposit of withdrawn bank notes

Government of India has issued “The Specified Bank Notes (Cessation of Liabilities) Ordinance, 2016” on 30.12.2016.  Section 4 of the Ordinance empowers Govt. to permit exchange of specified bank notes by Indian citizens who were outside India between 09.11.2016 to 30.12.2016 subject to conditions notified by the Govt.

Weblink to this Ordinance is http://dea.gov.in/sites/default/files/Ordinance 10 of 2016 30.12.2016.pdf

In exercise of these powers, Ministry of Finance (DEA) has issued a Notification S.O. 4251(E) dated 30.12.2016 allowing NRIs to exchange specified bank notes upto FEMA limit (Rs.25,000/-) within grace period upto 30.06.2017. 

Weblink to the notification is http://dea.gov.in/sites/default/files/24Notification 30.12.2016.pdf.


 

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