GOPIO asks PM Modi to allow diaspora to deposit, exchange currency

Diaspora Indians standing in the line for hours in front of RBI offices are turned away by security guards when they reach the gate, GOPIO said.

By: PTI | Washington | Published:January 31, 2017 8:44 am
budget session, budget session demonetisation, pm modi, prime minister narendra modi, modi, india news, latest news, indian express Prime Minister Narendra Modi. (Source: PTI)

Leading NRI forum Global Organisation of People of Indian Origin has launched an online petition, asking Prime Minister Narendra Modi to allow Indian diaspora to deposit or exchange their demonetised Indian currencies at the Reserve Bank of India. “This is a major issue for the Diaspora Indians and it can be easily resolved, there is no need for the Government to separate out NRIs from PIOs, we are all (overseas Indians) Diaspora Indians,” said Global Organisation of People of Indian Origin (GOPIO) International president Niraj Baxi.

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Currently, NRIs holding Indian Passport are only allowed to deposit or exchange the demonetised currencies at five Reserve Bank India branches in Delhi, Mumbai, Kolkata, Chennai and Nagpur. Diaspora Indians standing in the line for hours in front of RBI offices are turned away by security guards when they reach the gate, GOPIO said.

It said with an estimate of holding an average of Rs 5,000 per person, the 30 million Diaspora Indians and NRIs have about Rs 15,000 crores which is about one per cent of the demonetised currencies. Although the Indian Government in a notification extended the date for the exchange to June 30th at the Reserve Bank of India branches, Diaspora Indians including those holding OCI/PIO card holders are not allowed to deposit their demonetised currencies, it said.

“The Government of India has made such rules, but the problem is that this information has not been published and NRIs/PIOs arriving in India are not informed to get such document on the amount of demonetised currency one is bringing which is signed from an income tax official and secondly even if one knows about this rule, no one at the airport knows where such income tax person is sitting,” said Thomas Abraham, chairman of GOPIO International.

“Indians who left India to earn their living should not be deprived of their hard earned money because they were not in India to deposit the demonetised notes when banks were accepting the notes,” Abraham said. Abraham said although demonetisation intentions were good, the people who have been hurt are the sincere and hardworking Diaspora Indians who do not have any black money but the Indian government has restricted them to deposit their old notes.

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  1. B
    Bob Singh
    Apr 26, 2017 at 2:45 pm
    I tried to send email to supreme court and none of their emails are working those are advertised on the internet.
    Reply
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      Bob Singh
      Apr 26, 2017 at 2:44 pm
      I have 16 notes of Rs1000, I was told by the immigration on the Cochine Airport that the RBI will exchange them for you. I were told by the RBI staff in Kochi to go to Madras ( Chennai) that is the nearest place where you can definitely get your money exchanged. I took a flight to Chennai and RBI there gave me a very hard time to get through the gate to the information officer. There i was told that your money can not be exchanged because you have an Australian p port and you are no longer an Indian. I am Indian born and they are still telling me that I am not an Indian, if that is the case then why they have given me OCI, PIO card? Modi is looting NRI's. He is using Mahatma hi's name to get votes from the Indians and on the other hand he is insulting him who's picture is on the notes with promise to pay the sum of that note and Modi is refusing to exchange that note, that is ripping off NRI's . Can anyone help me?
      Reply
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        Bob Singh
        Apr 23, 2017 at 3:22 pm
        I have 16 notes of Rs1000, I was told by the immigration on the Cochine Airport that the RBI will exchange them for you. I were told by the RBI staff in Kochi to go to Madras ( Chennai) that is the nearest place where you can definitely get your money exchanged. I took a flight to Chennai and RBI there gave me a very hard time to get through the gate to the information officer. There i was told that your money can not be exchanged because you have an Australian p port and you are no longer an Indian. I am Indian born and they are still telling me that I am not an Indian, if that is the case then why they have given me OCI, PIO card? Modi is looting NRI's. He is using Mahatma hi's name to get votes from the Indians and on the other hand he is insulting hi who's picture is on the notes with promise to pay the sum of that note and Modi is refusing to exchange that note, that is ripping off NRI's . Can any one help me?
        Reply
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          Amit Kumar
          May 27, 2017 at 8:26 pm
          If it is like this i think all Oci card holder should sell all the property and leave India or at least do not visit India for some time.
          Reply
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          blanja
          Feb 2, 2017 at 4:06 am
          Dear Modi ji,lt;br/gt;please allow the OCI''s and PIO's to exchange their old 500 and 1000 Rs notes. It's a hard earned money and we are contributing considerably for the Indian economy. Some of us even kept some cash in our safety lockers in the bank for an emergency. So it would be better to dposit those too.
          Reply
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            Dr Kanayalal
            Jan 31, 2017 at 6:55 pm
            It is a flop show of Modi. What can you expect?
            Reply
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