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Cancellation of legal tender of Rs. 500 and Rs.1000 denominations

The Government of India has cancelled the legal tender of Rs.500 and Rs.1000 denominations (speificed bank notes - SBNs) from the expiry of 8 November 2016 and issued advisory to deposit Old High Denomination Bank Notes to individuals/persons into their bank accounts and/or exchanged in bank branches or Issue Offices of RBI till the close of business hours on 30th December, 2016. A Press Release issued by Department of Economic Affairs, Ministry of Finance could be accessed at the following link: http://finmin.nic.in/press_room/2016/press_cancellation_high_denomination_notes.pdf

The Ministry of Finance has now announced, vide gazette notification dated 30 December 2016, that this facility would be available to all Indian citizens who were outside India from 9 November 2016 to 30 December 2016, to tender these SBNs at the specified Issue Offices of RBI until 31 March 2017. For those citizens of India, who are not resident in India, this facility would be available till 30 June 2017 in order to allow them to adequate time to plan a visit as per their convenience.

This facility, however, would be subject to regulations of Foreign exchange Management (Export & Import of Currency) Regulations, 2015 under which bringing back such currency into the country is, restricted to Rs. 25,000/- per person.  The Indian community in Belarus is advised to take benefit of these revised provisions.


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Embassy of India, Minsk
Address : Ulitsa Sobinova 63, Minsk -220040, Belarus
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