Demonetisation: Deadline of 31st March to exchange old Rs 500 and Rs 1000 notes ends today

Aadil Ikram Zaki Iqbal
Post demonetisation drive, the deadline to exchange the old Rs 500 and Rs 1000 notes at the designated Reserve Bank of India (RBI) offices comes to an end on Friday.

New Delhi, Mar 31: Post demonetisation drive, the deadline to exchange the old Rs 500 and Rs 1000 notes at the designated Reserve Bank of India (RBI) offices comes to an end on Friday. Long queues are being reported since last few days as people rushed to RBI offices to make a last-ditch effort to exchange demonetised notes. The RBI has allowed Indian citizens who were abroad during November-December 2016 to exchange the scrapped notes up to March 31 and NRIs up to June 30. This facility is available at RBI offices in Mumbai, Delhi, Kolkata, Chennai and Nagpur only.

There are several people who couldn’t deposit or exchange the scrapped notes or have discovered them after the end of the demonetisation period on December 30. Such people are attempting one last time to exchange the banned currency. As the deadline ends today, there were many who expressed unhappiness with the short period given to them and changing rules to exchange the demonetised notes.

“There was no information about Red Channel procedure at the airport and I did not get the Customs certificate. So, I am being turned away after standing in the queue for six hours,” Disappointed, Ram Kumar, who works in Dubai told PTI. “This is not black money. It is money that I have earned, so why is the government creating so much fuss?” agitated Kumar added.

Two elderly women Usha, 65, and Sumitra, 80, next to the RBI gate in Delhi, have threatened to commit suicide in case they are unable to get their old notes exchanged. “I have found Rs. 41,500 in clothes. The RBI officials are saying they will only exchange the notes of NRIs,” Usha said.

Minister of State for Finance Arjun Ram Meghwal had said ineligible persons queuing up at the Reserve Bank were responsible for longer queues, adding that the RBI website has all the instructions and information documents required to be tendered for exchange of old notes. “Long queues are formed in Mumbai and Delhi only as a number of persons from the neighboring states are turning up here. Several staff members have been engaged to attend to the large number of people at the counters,” Meghwal said.

After scrapping the old Rs. 500 and 1,000 notes on November 8, the government had permitted people to deposit the same in banks up to December 30, 2016.