Originally Posted by
just an OCI
It is quite clear that RBI demonetisation effort is to stop counterfeiting of the current banknotes allegedly used for funding terrorism, as well as a crack down on black money in the country.
If this is true, RBI should clearly explain why Persons of Indian origin (PIOs) and Overseas Citizens of India (OCIs) are excluded to deposit scrapped Rs 500 & Rs 1,000 notes? Why only NRI's are allowed to deposit?
Are they linking OCIs to counterfeiting or funding terrorism or even black money.
The Min.of External Affairs should take the responsibility to explain why
the OCIs and Foreigners are not allowed to exchange the scrapped money, when it is legal to take out of the country and also return to India with Rupees 25,000/-
Welcome to FT.
RBI webpage has indicated where to lodge your complaint. Also GUWonder had and excellent suggestion of writing to PMO office. This thread is mostly for sharing information (and venting
) but unlikely to force any changes.
Last edited by desi; Jan 13, 2017 at 9:18 am