Here are some tips to exchange old Rs 500 & 1,000 notes for Indian’s who live out of India ?
1. If you are travelling, carry the cash with you to India and deposit in your account till Dec 30, 2016
If you dont have plans to travel this year, you can still exchange old 500 and 1000 rupees at RBI offices with proof.
2. If you are NOT travelling, give cash to a friend/ relative who is to India
- authorise in writing enabling another person in India to deposit the notes into your bank account.
3. Deposit to Non Resident Ordinary Rupee (NRO) account.
- If you have an Non Resident Ordinary Rupee (NRO) account, deposit it
According to RBI guidelines
An NRI can deposit the old Rs500 and Rs1,000 currency notes to Non Resident Ordinary Rupee (NRO) account
Checkout RBI question and answers to exchange old 500 and 1000 rupees