Despite the growing market share of domestic automakers, Teslas remain among the best-selling EVs in the Asian country
auto2 hours ago
NRIs and Indian nationals abroad can deposit up to Rs 25,000 of the demonetised currency during the 3-6 month grace period, but only if they show the junked notes to Customs officials at the airport and get declaration form stamped.
The declaration will have to be submitted at specified branches of the Reserve Bank while depositing the junked currency, a finance ministry notification stated.
Now NRIs can exchange old currency notes
While the 50-day window for such deposits at banks or post offices ended on December 30, the government has offered a grace period for those who were abroad.
The window for Indian nationals who were travelling abroad is till March 31 and for NRIs, it is June 30, 2017.
This facility, however, is "subject to the Foreign Exchange Management (Export and Import of Currency) Regulations, 2015. As per these regulations, bringing back such currency into the country is restricted to Rs 25,000 per person".
Indian expats relieved as notes exchange deadline extended
Those returning from Nepal and Bhutan are not permitted to carry specified bank notes (SBNs) of old 500 and 1,000 rupee notes.
"For the period from up to March 31, 2017 or June 30, 2017, as applicable, a declaration form will need to be filled by resident Indians and non-resident Indians coming to India and carrying SBNs for depositing these SBNs in the specified offices of RBI in India," the notification said.
"At the airport/land Customs stations etc on entry, Customs stamp on the said forms shall be affixed and the same shall be submitted along with other documents to RBI offices."
A one-page form has been worked out for the purpose.
Since the form to be filled in by the passenger bearing the Customs stamp will be crucial in subsequently facilitating the deposit of SBNs at the specified issue offices of RBI, the finance ministry asked the Customs formations to keep a copy of the same, preferably in a scanned format.
"The Customs officer shall strictly count the number of notes and tally the total amount mentioned before stamping the form submitted by the passenger," the notification said.
Despite the growing market share of domestic automakers, Teslas remain among the best-selling EVs in the Asian country
auto2 hours ago
The entire plan will see cow-breeding and poultry projects come up near the massive wheat farm and the dairy farm will form the third phase
uae2 hours ago
Modi, 73, remains resoundingly popular after a decade in office, and he is widely expected to win a third term
asia2 hours ago
With over seven years of experience in branding and social media, and three years in motion graphics and editing, Arkan's expertise spans a wide range of creative domains
kt network2 hours ago
Names of leading brands in various sectors revealed in a new report by Brand Finance
uae3 hours ago
Four workers died when the drone struck a condensate storage tank at Khor Mor Complex, Dana Gas said in a statement to the ADX
mena3 hours ago
Experience the future of comfort and convenience with innovative smart furniture, elevating your lifestyle through seamless integration of technology and design
business technology review3 hours ago
The device is equipped solely with an AI-powered personal assistant tasked with carrying out a multitude of practical tasks
business technology review3 hours ago