NRIs can deposit old banknotes till June 30

Indian citizens who are not resident of India will be able to exchange old Rs 500 and Rs 1,000 notes at RBI offices till June 30.

External Affairs Ministry on Friday announced that the provision to exchange the notes would be subject to the regulations of the notification — Foreign Exchange Management (Export and Import of Currency) Regulations, 2015 which put the limit of bringing back currency into the country at Rs 25,000 per person.

The announcement comes a day ahead of the three-day-long Pravasi Bhartiya Divas convention in Benguluru which is expected to be attended by overseas Indians from across the world.