Indian banks in China to not accept scrapped bank notes!NRI News

November 19, 2016 12:44
Indian banks in China to not accept scrapped bank notes!

Indian embassy in China said in an advisory that, scrapped currency notes of Rs 500 and 1,000 cannot be deposited at Indian bank branches in China or Hong Kong.

Indians living in China will not be able to deposit the demonetised bank notes at branches of Indian banks located in China or Hong Kong.

The embassy said that, "The person so authorised has to go to the bank branch with the specified bank notes, the authority letter given by you and a valid identity proof."

One will have to authorize in writing enabling another person in India to deposit the notes into his or her bank account.

Thousands of Indians live in China, mostly in Shanghai, Beijing and Guangzhou. There are seven India banks in China, two are from the private sector.

Isha Luthra, who works in Beijing, reacted sarcastically, "I couldn't be more grateful." "I am glad I have a trip back home before December 30."

Also Read: Indian Government sets up panel to look into cash concerns of tourists, NRIs

Nandini

 

If you enjoyed this Post, Sign up for Newsletter

(And get daily dose of political, entertainment news straight to your inbox)

Rate This Article
(0 votes)