You are here: Home » Current Affairs » News » National
Business Standard

No second chances, window for NRIs to deposit banned notes is over: Sushma

According to GOPIO, overseas citizens of India are still holding demonetised currencies as RBI did not allow them to deposit them

Press Trust of India  |  Washington 

Sushma Swaraj
External Affairs Minister Sushma Swaraj

External Affairs Minister has ruled out any new window of opportunity for or people of Indian-origin to deposit their high-value Indian currency which was declared illegal after the policy, a statement said on Wednesday.

Swaraj made these remarks during her interaction with a delegation of Global Organisation for People of Indian Origin (GOPIO)during her trip to New York last week, a media statement said.


"Swaraj informed that the had provided the time window for Non-Resident Indians (NRIs) who are Indian citizens to deposit their currencies earlier. However, that window was not open for Diaspora Indians with foreign citizenship and the would not be able to provide another such chance," the GOPIO statement said.

Prime Minister announced his policy on November 8 last year, banning old currency notes of Rs 500 and Rs 1,000 denomination.

According to GOPIO, overseas citizens of and people of Indian-origin are still holding demonetised currencies as the Reserve did not allow them to deposit them.

"Diaspora Indians have close to Rs 7,500 crores still lying with them in small amounts. What should the do with the old currencies?" GOPIO asked.

During the meeting, GOPIO delegation said that did not have Aadhaar card for linking with their

"Swaraj clarified that won't require Aadhaar card to operate their bank accounts," it said.

GOPIO suggested that Indians citizen living anywhere in the world have an Aadhaar card similar to all US citizens having a social security number, whether staying in America or outside.

It complimented Swaraj and the Indian Missions worldwide for their pro-active role in helping Indians living outside in time of distress, the statement said.

"However, as more Middle East are returning home, we need to develop programmes to help resettle them. Swaraj said that there are many programmes for skills development as well as money available from different ministries for starting a business or technology related outfit," the statement added.

GOPIO has offered to be facilitator between the returned and the

Consul General of in New York Sandeep Chakravorty also participated in the meeting.

First Published: Thu, September 28 2017. 08:18 IST
RECOMMENDED FOR YOU