Demonetisation of Rs 500, Rs 1,000 notes: A simple guide for NRIs, foreign tourists

Zee media bureau

If you have Specified banknotes in India, you may authorise in writing enabling another person in India to deposit the notes into your bank account. The person so authorised has to come to the bank branch with the Specified banknotes, the authority letter given by you and a valid identity proof (Valid Identity proof is any of the following: Aadhaar Card, Driving License, Voter ID Card, Pass Port, NREGA Card, PAN Card, Identity Card Issued by Government Department, Public Sector Unit to its Staff)

Can the exchange value be deposited in account of an NRI who holds NRO account ?

Yes, you can deposit the Specified banknotes to your NRO account.

What should foreign tourists with old notes do?

You can purchase foreign exchange equivalent to ₹5000 using these Specified Bank Notes at airport exchange counters within 72 hours after the notification, provided you present proof of purchasing the Specified Bank Notes.