EXCHANGE OF OLD CURRENCIES

[DR.MARIAPPAN GOVINDARAJAN]

Suppose a person is in employment in a foreign country and having the currency of ₹ 500/- and ₹ 1000/- in the old format and he could not come to India and change them within the time stipulated. How can he exchange the old notes.

[Ganeshan Kalyani]

I remember when Aadhar Card was started to issue , it was told that within stipulated time the registration should be done. but now we know now that still Aadhar number can be applied for. the due date is ought to extend. these type of guinine account holder are there who need required and justified extended time to do the required action .

I heard from untested source that some banks will be dictated for accepting and issuing new denomination in place of old one .

[Ganeshan Kalyani]

Sir why would a person carry Indian currency abroad . he/she would convert the Indian currency into foreign money and travel abroad .

AI Summary

Exchange of demonetised currency: options for holders abroad include seeking extended arrangements and bank-supported exchanges. Exchange of demonetised currency by persons abroad raises how holders who missed the domestic exchange window can obtain replacement. The discussion notes that deadline extensions have occurred in analogous administrative contexts and that there are unverified reports some banks may accept old notes for new denominations, while emphasizing these reports are not authoritative.