RBI to announce facility for NRIs to exchange old notes
The Reserve Bank of India (RBI) on Saturday said that it will introduce a facility for exchange of old specified…
After the Indian government demonetised the Rs.500 and Rs.1,000 notes a month ago, foreign missions have concerns over the paucity of cash for running daily operations.
Dean of the Diplomatic Corps in India and Ambassador of the Dominican Republic Frank Castellanos said on Wednesday that Rs.50,000 a week for the operation of an embassy was not enough.
He said that foreign missions here could not be stopped from accessing their funds and a solution to this was needed soon.
Last week, Russian Ambassador to India Alexander Kadakin wrote to the Ministry of External Affairs complaining about inadequate funds.
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