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CONSOLIDATED: 500 and 1000 rupee notes no longer legal tender!

CONSOLIDATED: 500 and 1000 rupee notes no longer legal tender!

Old Jan 16, 2017, 6:27 pm
  #241  
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All - this thread is not about visa issues / Indian politics / religion / babus / the IFS/ IAS / netas or any other ancillary topic.

Please try and focus posts on specific issues related to, and experiences with, the demonetization policy and the cancelling of the 500/1000 rupee notes.

Thanks,
AJLondon
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Old Jan 16, 2017, 6:49 pm
  #242  
 
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Originally Posted by just an OCI
The only way out of the dilemma is to locate an NRI who is going to India, he would do the needful in India (RBI & immigration) and return with new Rupee notes. (Probably up to max..Rps 25,000/- that he can carry out from India).

As they say, all NRI & OCIs are brothers & sisters of India.
Not as easy as it was before Dec 30.
a) Instead of every bank branch in India, this is now possible only at 5 specific branches of RBI
b) Letter of authorization will not work in this case. The person has to go to RBI himself/herself.
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Old Jan 18, 2017, 3:58 pm
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U.K. Citizen - cash and cash machines

Hi all,

My first time posting in the India forum and I wish you all well.

I'm travelling to India in a few weeks and would like to know about the cashpoint machine situation. Can I get cash out every day or should I bring cash with me?

I'm based in the U.K. so if I need to bring cash should it be pounds or dollars?

Thanks in advance.
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Old Jan 18, 2017, 11:20 pm
  #244  
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earlier this week, as per the rbi guidelines, the daily atm cash withdrawal limit has been increased to inr 10k but the weekly withdrawal limit remains inr 24k....

more info on the cash situation is available in the thread below:

http://www.flyertalk.com/forum/india...al-tender.html
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Old Jan 19, 2017, 3:27 pm
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Thanks Keyser!
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Old Jan 19, 2017, 5:56 pm
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Come on guys.
What's the point of quoting and reacting to one line left behind by a moderator out of the actual post which meant to say something different. Normal etiquette of any discussion board is to leave a post heavily edited by moderator alone.

He (rightly) wants us to stick to information sharing aspect rather than opinion sharing aspect.

At this point we are looking for datapoints regarding:

a) ease/difficulty of getting cash from bank/ATM at imortant cities/airports
b) ease/difficulty for NRI at RBI branches
c) experiences of OCI in getting custom declaration form stamped at airport
(just because RBI do not allow OCI to deposit notes does not mean custom disclosures should not be allowed but actual datapoints would be useful)

and of course information/specifics if and when rules change once again...

Last edited by desi; Jan 19, 2017 at 6:06 pm
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Old Jan 19, 2017, 5:59 pm
  #247  
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Originally Posted by desi
At this point we are looking for datapoints regarding
a) ease/difficulty of getting cash from bank/ATM
b) ease/difficulty for NRI at RBI branches
c) experiences of OCI in getting custom declaration form stamped at airport
(just because RBI do not allow OCI to deposit notes does not mean custom disclosures should not be allowed but actual datapoints would be useful)

and of course information/specifics if and when rules change once again...
^ ^ ^
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Old Jan 20, 2017, 12:52 am
  #248  
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Originally Posted by desi
a) ease/difficulty of getting cash from bank/ATM at imortant cities/airports
with the atm withdrawal limit increased to inr 10k per day, i managed to get the full amount at an atm at the delhi high court a couple of days ago....but reports from yesterday & today indicate that the atms were out of cash by midday....this morning i needed cash again so i went to 4 atms in the new friends colony market & all 4 were out of cash....
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Old Jan 21, 2017, 9:56 pm
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Question 1:
Since weekly limit remain at 24k, does that mean this shortage wil auto-correct after few days or do you think people will hoard more cash?
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Old Jan 21, 2017, 10:01 pm
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Question 2:
How are withdrawal limits impact foreigners taking money out of their foreign accounts?
I guess at ATM transaction level 10k might be imposed. But cant s/he find 5 different ATM (with cash in it) and be abe to get 50,000 out in single day? (different story that fraud detection may freeze the card)
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Old Jan 22, 2017, 5:22 pm
  #251  
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Greetings from DEL. The red line is choked by NRIs lining up to get their form stamped. A stack of empty forms is provided. PIO/OCIs are rejected on the spot. After watching a number of Canadian sardars getting into a shouting match with the customs clerks about this I decided I had better things to do than this BS and moved on. 17k donated to Modiji. Now I have to find a way to dispose them, or else be arrested under FEMA/FERA during my next visit.

On the positive side the green channel is deserted, as all available customs staff is busy at these counters.

​​​​​​​
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Old Jan 22, 2017, 5:24 pm
  #252  
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Long lines at the Fx counters here in DEL, but people seem to be getting cash there. The ATMs are all saying 'sorry no cash'. Didn't have to get cash because I still have a pile on 100 notes that I reluctantly had to take last August
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Old Jan 23, 2017, 3:28 am
  #253  
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Originally Posted by oliver2002
Greetings from DEL. The red line is choked by NRIs lining up to get their form stamped. A stack of empty forms is provided. PIO/OCIs are rejected on the spot. After watching a number of Canadian sardars getting into a shouting match with the customs clerks about this I decided I had better things to do than this BS and moved on. 17k donated to Modiji. Now I have to find a way to dispose them, or else be arrested under FEMA/FERA during my next visit.

On the positive side the green channel is deserted, as all available customs staff is busy at these counters.

​​​​​​​
There are NRIs who are offering to take cash from PIOs/OCIs and do what is allowed to NRIs but not allowed to PIOs/OCIs. The haircut varies.
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Old Jan 24, 2017, 9:16 am
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Originally Posted by GUWonder
There are NRIs who are offering to take cash from PIOs/OCIs and do what is allowed to NRIs but not allowed to PIOs/OCIs. The haircut varies.
Where / how does one locate such NRIs and roughly how much is the haircut?
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Old Jan 25, 2017, 1:16 pm
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My dad was asking me if I want to trade my 10.5K. The so called agent who is doing this is keeping 60%. So, I would get roughly 4K for my 10.5K.


A part of me says 4K is better than no K.


Thoughts?
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