On 8-Nov-2016, Govt. of India took a historic action to fight against black money, counterfeit currency and corruption and demonetized high denomination currency notes of 500 and 1000 Indian Rupee. The rule came in action without any prior intimation and from midnight on the announcement day, all these notes were banned for use other than for specified usage.
While this affected people in India to a great extent, the Indians residing abroad were also not unaffected. Whoever has cash money in denominations of 500 and 1000 INR now has to deposit them or get them exchanged.
In this blog, I’ll try to consolidate the actions the Indians residing overseas can take for demonetized notes in their possession.