Originally Posted by
desi
https://www.rbi.org.in/Scripts/FAQView.aspx?Id=122
Based on the above (last updated on Jan 4) from RBI's own web site,
a) Resident Indians have until 31 Mar.
b) Non-Resident Indians have until Jun 30.
c) OCI (Item 6) dont have any way.
d) foreign nationals also dont have any way (implicitly) as OCI dont have any way.
For a) and b) custom declaration form stamped by custom officer, relevant ID, an eligible bank account, proof of absence during specified period are needed. But from what I read, deposit can be done only at 5 specific RBI branches in the entire country. KIndly point to any official source that confirms that any regular bank or any other RBI branch can take these deposits. That would ease burden on NRI significantly.
Separate question: what happened to all that hype about OCI being on par with NRI? It was bad enough that they changed the rules retroactively to make this "life long visa" stamp a lie, now we find that even "parity with NRI in financial/economic matters" is a lie too.
This is currently on Home Ministry web site:
http://mha1.nic.in/pdfs/oci-chart.pdf
This is not something a politician decides. It is purely career babus (same ones who came up with "can't re-visit India within few months" or "life-long visa expires at 50" rules)
The RBI exchange route is allowed to most resident Indians? Only a tiny sliver of a minority of resident Indians haven't been in India for any time during November/December 2016, and so aren't they too now out of luck with remaining demonetized notes unless getting creative or worse?
Non-resident Indians resident in Nepal, Bangladesh, Pakistan and Bhutan are out of luck unless getting creative or worse.
The government keeps changing the rules along so many different variables that it can't but speak to the incompetence of the government for forcing things down the throats of the common lok and the babus in this regard.
The "can't revisit India within a few months" was driven by the elected officials demanding something be done after being told David Headley had used a visa to repeatedly visit India in short period of time in order to set up things for the Thanksgiving 2008 long-weekend assault on Bombay by Pakistan-based terrorists.