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NRIs left high & dry over demonetised notes
Caught off-guard, that is the predicament of Non-resident Indians (NRIs) who landed in India between December 30, 2016 and January 1, 2017.
With no proper guidance at Hyderabad airport, NRIs feel helpless
Hyderabad: Caught off-guard, that is the predicament of Non-resident Indians (NRIs) who landed in India between December 30, 2016 and January 1, 2017.
While people are aware that NRIs who were not present in India during the period from November 8, 2016 to December 30, 2016 will be eligible to exchange demonetised notes which are now referred to as Specified Bank Notes (SBNs), there was no publicity of the rule that insists that a certificate issued by Indian Customs on arrival through red channel indicating the import of SBNs with details and value has to be procured once NRIs land at the Rajiv Gandhi International Airport in Hyderabad.
Highlights:
- RBI Hyderabad office not nominated as exchange counter
- NRIs landing at airport not directed by Customs officials to fill declaration form that would enable them to exchange notes
NRIs visiting the Reserve Bank of India office at Hyderabad are being turned back stating that it is not nominated as an exchange counter.
People need to go to exchange their amount at the RBI offices in Mumbai, New Delhi, Chennai, Kolkata or Nagpur.
A case in point is Mohammed Altaf. “I informed (airport) officials that I was carrying Rs 46,000. They told me to go to the RBI.
No one informed me about the declaration form. Also the RBI office at Hyderabad is not accepting the money,” said Altaf, who landed at the Hyderabad airport on January 7.
Naresh Bakthula, a Canadian citizen of Indian origin, said that people travelling between December 30 and January 1 would be in transit and there was no way they would know about the rule.
Also there was no desk at the airport and neither did the customs officials inform passengers that they would have to fill a declaration form.
“A PTI press release appeared on January 2 by which time I had already landed and cleared customs,” Naresh said. The officials at RBI are clueless and unable to provide solutions to NRIs who do not have the declaration form from the airport and whether the designated five RBI offices would accept the cash.
On Wednesday, there was heavy rush at the RBI office but the NRIs were not allowed to meet officials. A note on the rules was handed over to them.
Aijaz Ahmed, who landed at the RGIA on January 5, was in for a rude shock when he visited the RBI office. “If we were told by the Customs officials or if there was a separate counter, thousands of people would be saved from the agony.
I have Rs 40,000 and I have personal problems. It is difficult to travel to Chennai or Nagpur the nearest RBI offices to get the notes exchanged,” said Ahmed.
Speaking to The Hans India, N Shanmugaram, assistant general manager, Personal, RBI, Hyderabad, said that the central bank did not assign Hyderabad office as an exchange counter and the bank was bound by the rules.
