You can deposit them in the Indian Bank till the 30th of December 2016 and get the equivalent amount in valid currencies ( likely with a fee for the conversion with ID (listed below). Demonitization of Rs.500& Rs. 1,000 in India & impact on tourists: For tourists and international travellers: Arrangements will be made at international airports for arriving and departing passengers (including foreign tourists) who have Rs 500 or Rs 1000 notes of not more than Rs 5,000, to exchange them for new notes or other legal tender. ------- * For exchange up to 4000 in cash, you may go to any bank branch with valid identity proof. * Proof of Identity – Aadhaar Card, Driving License, Voter ID , Pass Port, NREGA Card, PAN Card, ID Card issued by Government Department, ID Card issued by Public Sector Unit to its Staff. * Old currency notes If you are unable to deposit your Rs 1,000 and Rs 500 notes by December 30 for some reason, you could exchange the notes until March 31, 2017, by furnishing your ID proof. If you miss that date too, you can go to RBI, fill a declaration form and exchange your money. From November 10 onwards, RBI will start issuing the new Rs 500 and Rs 2000 notes. This is procedure as found in press publication of Govt. of India policy; hope practice matches (and I say this only because generally, everyone interprets everything their own way and believes firmly in that). Good Luck!
We landed in India on the night of demonetization. Heard the news as we were landing in Delhi. Within few hours of announcement, everyone including airport stores stopped accepting 500 and 1000 rs bills. Luckily, we had a few rs 100 bills to buy milk for kids. Days after that were interesting to say the least. Most banks and ATMs ran out of money in 2-3 days. My dad stood in line for 4 days to finally get rs10000. My sister didn't get any money after standing in line for 2 days (and missing work). On top of that, my nephew was getting married in 2 days. Lot of 500 and 1000 rs notes were handed to relatives as "Shagun". My said nephew just started as a bank PO, on one hand it was nice that atleast he could exchange money but on the other hand, he couldn't get time off for his own wedding (banks were working even on weekends). On the bright side, I spent only 20k in India (including credit card purchases).
I guess Nris have some time till 2017 , I am not sure about month to exchange the notes in RBI. Do exchange the notes however you can , easiest is send it through friends and family , otherwise it will considered as the black money not returned
Are credit card purchases safe ? I had my credit card number stolen twice on visits to India. I had the physical card with me, but the number was used for local purchases [by someone] months after I had left India. I had to get a different credit card after that. This has also happened to me on a visit to Cancun, Mexico. I prefer using cash in such places. It is a lot safer than credit card.
