NRIs should produce customs declaration certificates to exchange demonetised currency notes

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CHENNAI: Many NRIs could not exchange their demonetised Rs 500 and Rs 1,000 currency notes at the Reserve Bank of India (RBI) regional office in Chennai, as officials wanted them to produce customs declaration certificates.

The NRIs, who could not exchange the old currency notes, said the RBI website didn't mention that they should produce customs declaration certificate.



"I am employed as a fitter in Dubai and reached Chennai two weeks ago. I enquired with the flight crew members if I need to submit details of the demonetised currency notes. The flight attendants claimed that I can exchange at the RBI Chennai office," said Parasuraman Ganesan, a resident of Adyar.



Pramila Krishnan, an NRI employed in Canada, felt customs officials at the airport should tell NRIs what they should do to get the demonetised notes exchanged.

She said: "I have read customs rules. They mentioned to disclose if I were carrying $1,000 worth Indian currency (Rs 67,000) or above. The customs officials at the Chennai airport should have asked me if I were carrying demonetised currency notes. None of the customs officials at the airport informed me about collecting customs certificate."

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At least 200 people gathered and queued up outside the RBI office in Chennai to exchange demonetised notes on Friday. "We are getting queries from several people and they also complained of being unaware of getting the customs certificate from the airport. We have received a detailed guideline and we are implementing it," said a senior security official of the RBI.

The RBI officials have put out a banner outside the RBI office on the Kamarajar Salai saying the facility is not available for OCIs, PIOs, foreign nationals and Indian Citizens resident of Nepal, Bhutan, Pakistan and Bangladesh. It also clarified that the facility of exchanging demonetised currency notes only for Indians and NRIs, who were abroad during the period November 9, 2016 and December 30, 2016.

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Govt wants to make money thru the process of exchange of SBN AT selected RBI BRANCH.
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Another banner said NRIs should submit a copy of his/her passport to prove they were abroad from November 9, 2016 to December 30, 2016. The photocopies of the pages bearing the arrival and departure stamps of Indian immigration authority, along with the first and last pages of the passport, are also needed.

They should also submit certificate issued by Indian customs on arrival through red channel, evidencing proof of import of specified bank notes (SBNs) with details and value thereof, apart from a PAN card photocopy and copies of statements of all bank account maintained by the NRI in India for the period from November 8, 2016 to December 30, 2016. An NRI should come in person with all the original documents and no third party will be allowed to exchange as proxy for him/her.