Contact Your Financial Adviser Money Making MC
17
November 2016
Indians living in China cannot deposit
the scrapped currency notes of Rs500 and Rs1,000 at Indian bank branches here. The Total Investment & Insurance
Solutions
The Indian embassy in an advisory said
the demonetised bank notes "cannot be deposited at branches of Indian
banks located in China or Hong Kong". The Total Investment & Insurance Solutions
One will have to authorise in writing
enabling another person in India to deposit the notes into his or her bank
account. The Total Investment &
Insurance Solutions
"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," the embassy said.
Thousands of Indians live in China,
mostly in Beijing, Shanghai and Guangzhou.
Of the seven India banks here, two are
from the private sector.
"I couldn't be more grateful,"
Isha Luthra, who works in Beijing, reacted sarcastically. "I am glad I
have a trip back home before December 30," Luthra told IANS. The Total Investment & Insurance
Solutions
December 30 is the last date to deposit
or exchange the spiked currency.
India on November 8 announced the
scrapping of Rs500 and Rs1,000 rupee notes to battle corruption and black
money.The Total Investment &
Insurance Solutions
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