Indian rupee notes cancelled.

Voyager2002

Just a heads-up for anyone planning a trip to India and thinking of buying currency in advance: the high-value notes (Rs500 and Rs1,000) have been cancelled, so if you buy any of these you will not be able to spend them there.

More generally: the banks will be exchanging these notes for people, and so will be even more busy than usual. Visitors should ensure that they can get currency from ATMs, since the hassle involved in changing money in banks will be even greater than usual.

ince_mon

I'm off there at the end of the month for 3 weeks,will be using the atm's anyway.

Cheers anyway.

jonesMUFCforever

Indian notes have been a prohibited currency for many years ie you buy them at your own risk outside of India.

Pollycat

Check out the threads on the Goa board on Tripadvisor.

Apparently, there will be a limit on how much you can draw from ATMs.

From a TA post:

from the 11th to 18 th Nov there will be a limit of just 2000 a day, then from 19 th onwards it's 4000 a day. Atms at RBI banks will be free to use upto 30 th Dec.

al266

I have around 18,000Rs from my recent holiday to India (I go frequently hence the excess back up cash) but now I have no idea what I should do. So ridiculous! I don't know anyone going before December and none of the banks / post office are taking the money.

eDicky

al266 wrote: »

I have around 18,000Rs from my recent holiday to India (I go frequently hence the excess back up cash) but now I have no idea what I should do. So ridiculous! I don't know anyone going before December and none of the banks / post office are taking the money.

Try the State Bank of India UK:

https://www.sbiuk.com/footer/top-footer/contact-us

Pollycat

I think you need proof of changing the money from sterling to rupees to be able to change the now obsolete 500 & 1000 rupee notes at the bank.

As I said earlier, check out the threads on the Goa TA board.
People queuing for hours, restaurants rounding the bills up to the nearest 500 rupee to conserve their change, change places offereing 80+ rps to £ if you take the old notes but only 40+ if you want 100 rp notes.

al266 - you may have to kiss goodbye to your 18k rps if they are the old 500 & 1000 notes.

b100

Barclays bank were exchanging the 500 and 1000 notes for pounds earlier this week. However, I called customer services today and they have informed me that they have currently stopped accepting them. The representative explained that they are currently "in discussions", and may start accepting them in 1-2 weeks time...

Londoner_1

We have 40k, going in Dec so will be banking them straight.

JohnRo

Imagine the UK cancelling £5 and £10 notes, to disrupt the black market.

Does anyone know what the UK equivalent of these notes would be in cost of living terms? I'm just interested and can't face trawling the net.

jonesMUFCforever

JohnRo wrote: »

Imagine the UK cancelling £5 and £10 notes, to disrupt the black market.

Does anyone know what the UK equivalent of these notes would be in cost of living terms? I'm just interested and can't face trawling the net.

Not quite the same here but there have been rumours that the £50 note could go and of course the 500 euro note is of no use to anybody in UK.