Don't panic: Indian Embassy assures NRIs in UAE

Top Stories

Dont panic: Indian Embassy assures NRIs in UAE

Abu Dhabi - Expats in the UAE are looking at all possible means to exchange their money or send the couple of thousands in hand back to India.

by

Ashwani Kumar

  • Follow us on
  • google-news
  • whatsapp
  • telegram

Published: Sun 13 Nov 2016, 6:26 PM

Last updated: Wed 14 Dec 2016, 2:57 PM

The Indian government has hit hard on the knuckles of expatriates with its call to demonetise Rs 500 and Rs 1,000 notes, but an Indian Embassy official said people needn't press the panic button as there will be more clarity in few days on the way forward.

Expatriates in the UAE are looking at all possible means to exchange their money or send the couple of thousands in hand back to India.
Also read: NRI tries to convert Rs 800,000 at UAE exchange

"In due course of time this will be a good move for the country," the official source said. "Of course, these are tough times but there are guidelines that can be followed to get through. We have shared speeches made by Prime Minister Narendra Modi and President Pranab Mukherjee on our Facebook page."

According to the official, people can make use of NRO accounts, take permissible money back to India, authorise a person to deposit money back in India to get through this period.
Also read: Sharjah-based NRI gets Rs 2,000 notes worth Rs 160,000

"There is time till December 30. The government's move is in the right direction. People are suffering now but in the long run this will be beneficial," the official said.

"India is a developing country and needs to make more use of plastic money. This move by government will help in this regard," the official added.

ashwani@khaleejtimes.com



More news from