One of the most frequently asked question among NRI community post the historic announcement of demonetization of Rs 500 and Rs 1000 notes in India is whether NRIs can send the Indian currency to India using FedEx, DTDC or DHL express or not. The answer is No, NRIs cannot send money e.g. bank notes, currency notes, coins and traveler's cheques via international shipment e.g. DHL Express, DTDC, FedEx or any other means to India.
Wednesday, November 30, 2016
Sunday, November 27, 2016
If you are like many NRIs which keeps some amount of cash from 2K to 25K in denomination of Rs 500 and Rs 1000 notes which are now banned in India and thinking to either exchange them for new notes or deposit in their bank account, so that you can withdraw them later using ATM, then this post is a must read for you. In this article, I am going to share 7 important points every NRI should know and remember who is thinking of exchanging or depositing old Rs 1000 and Rs 500 notes.
Friday, November 25, 2016
In my last article is it possible to exchange old Rs 500 and to Rs 1000 notes overseas I mentioned that currently, it's not possible to change old Indian currencies of Rs 500 and Rs 1000 abroad because neither money exchangers are accepting those notes nor Indian banks at overseas, both public and private are accepting them. So, now the biggest question is how do NRIs living in US/Canada/Australia/Japan/Singapore/HongKong/UAE change their old notes? Are their cash is worthless now? The only way NRI can exchange or change old Rs 500 and Rs 1000 notes is either personally visiting any bank in India or authorizing someone to do the exchange on their behalf by submitting authorization letter and self-attested copy of passport. You should also remember the deadlines, 30th December 2016 and 31st March 2017
Wednesday, November 23, 2016
One of the frequently asked question by NRI who are traveling to India or currently in India is that whether they can deposit their Rs 500 and Rs 1000 notes in their NRE account or not? Some of them have withdrawn the cash from their NRE account itself prior to the surprise declaration of demonetization by the prime minister on the night of 8th November.
Tuesday, November 15, 2016
Ever since Indian PrimeMinister Mr. Modi announce demonetization of Rs 500 and Rs 1000 notes, many NRIs, PIOs and other Indians residing overseas are worried about how to convert their cash which is mostly in the denomination of Rs 500 and Rs 1000. It's very common for NRIs and Indians working overseas to keep small cash of amount 5000 to 10000 when they come back from India.