Old Notes (Rs. 5000 per Week) Exchange Facility for Foreign Passport
Holders Extended Till 31 Jan 2017
[RBI
Circular No. 24 dated 3rd January 2017]
Sub: Exchange
facility to foreign citizens
Attention of Authorized Persons is invited to the A.P. (DIR
Series) Circular No. 20 dated November 25, 2016 permitting foreign citizens to exchange
foreign exchange for Indian currency notes up to a limit of Rs.
5000/- per week till December 15, 2016 and extended up to December 31, 2016
vide A.P. (DIR Series) Circular No. 22 dated December 16, 2016.
2. On a review it has been
decided that the instructions contained in the A.P. (DIR Series) Circular No.
20 dated November 25, 2016 shall continue to be in force till January 31, 2017.
3. Authorised Persons may
follow the above instructions and bring the contents of this circular to the
notice of their constituents.
4. The directions contained
in this circular have been issued under Section 10(4) and Section 11(1) of the
Foreign Exchange Management Act, 1999 (42 of 1999) and are without prejudice to
permissions / approvals, if any, required under any other law.