Question : Demonetisation Hurdles for Foreigners and NRIs

GOVERNMENT OF INDIA
MINISTRY OF FINANCE
DEPARTMENT OF ECONOMIC AFFAIRS
LOK SABHA
UNSTARRED QUESTION NO. 4063
TO BE ANSWERED ON 9TH DECEMBER, 2016/18TH AGRAHAYANA, SAKA, 1938

Demonetisation Hurdles for Foreigners and NRIs

4063. SHRI GAJANAN KIRTIKAR:
SHRI S.VIJAYAKUMAR:
DR. SUNIL BALIRAM GAIKWAD:
SHRI T. RADHAKRISHNAN:
SHRI SUDHEER GUPTA:
SHRI DHARAM VIRA:
KUNWAR HARIBANSH SINGH:
SHRI BIDYUT BARAN MAHATO:
SHRI M. CHANDRAKASI:
DR. RATNA DE (NAG):
SHRI MANOJ TIWARI:
SHRI CHANDRA PRAKASH JOSHI:

QUESTION
Will the Minister of FINANCE be pleased to state:
(a) whether the Government is aware that diplomatic missions in India are increasingly finding it difficult to address problem faced by tourists, students, medical tourists, delegates and diplomats due to demonetisation and if so, the details thereof;
(b) whether the Government has formed any Committee and directed the banks to make adequate arrangement to address the problem and if so, the details thereof and the actions taken thereon;
(c) whether the Government has also formulated any plan for exchange of old notes for Non Resident Indians and opened facilitation counters for the exchange of demonetized currency notes in foreign countries including Nepal and if so, the details thereof; and
(d) the steps taken by the Government in this regard?

ANSWER
MINISTER OF STATE IN THE MINISTRY FOR FINANCE
(SHRI ARJUN RAM MEGHWAL)

(a) to (d): Government has constituted a Committee to look into the difficulties, related to the cancellation of legal tender character of old banknotes of Rs. 500 and Rs. 1000 denominations, faced by foreign tourists/foreign nationals and to suggest remedial actions. The committee has submitted the Report and the recommendations are under examination of the Government.
However, various steps have been taken for the benefit of foreign tourists. The foreign tourists, at present, can exchange foreign currency upto Rs. 5000 per week. Further, to avoid any inconvenience to foreign tourists, Authorized Persons were advised to issue Pre-paid instruments to them in terms of the instructions issued by Department of Payments and Settlement System, Reserve Bank of India, in exchange of foreign exchange tendered.