Indian diaspora seeks PM Modi’s intervention in exchanging demonetised currency

Indian diaspora has expressed concern over the problems being faced by them in exchanging their demonetised currency at RBI and has demanded the Indian Prime Minister Narendra Modi’s intervention in solving their woes.

The Indian diaspora umbrella organisation Global Organisation of  People of Indian Origin (GOPIO) has apprised PM Modi that Diaspora  Indians are being prevented at RBI from depositing or exchanging their demonetised currency and appealed that they should be allowed to do so.

Indian diaspora people facing problems while exchanging demonetised Indian currency.
People of Indian diaspora are facing problems while exchanging demonetised Indian currency. Photo courtesy: Aadhar

Through a statement, GOPIO has written, “Indian diaspora with foreign  citizenship and OCI/PIO card holders are being turned away by Reserve Bank of India from depositing their demonetized currencies, despite the extended deadline for NRIs being till June 30, 2017. Only NRIs with Indian passport can go inside and exchange the scrapped Rs 500 and Rs 1,000 notes.”

The organisation has demanded for intervention of PM Modi in the matter and Diaspora Indians with foreign citizenship, Person of Indian Origin (PIO) and Overseas Citizens of India (OCI) card holders must be given the same opportunity for depositing old currency notes as given to NRIs (Indian Passport holders), allowing them to deposit up to Rs 2,50,000 of Indian currency in the RBI instead of notified amount of Rs 25,000.

The organisation also demanded that diaspora Indians (who are not able to visit the country) should also be permitted to deposit money in their bank accounts in India through an authorised agent. (The amount certified by the foreign branches of State Bank of India or Indian Missions in the country of their residence or in RBI/NRO accounts with various banks in India.)

Read more India News and NRI News here