MAMSB: Indian Travellers Can Exchange RS500, RS1,000 With Banks In India, Reserve Bank Of India

KUALA LUMPUR, Nov 11 (Bernama) -- Travellers to India by Dec 30, 2016 can exchange the existing Rs500 and/or Rs1,000 notes with the banks in India or the Reserve Bank of India (RBI), said The Malaysian Association of Money Services Business (MAMSB). In a statement Friday, MAMSB said, this was guided by the notification and frequently-asked-questions issued by the RBI and India's Ministry of Finance. "We are currently engaging all relevant parties, including the currency wholesalers, to find a workable solution on the issue of the demonetisation of the existing Rs500 and Rs1,000 notes. "For Malaysians in possession of the notes and not travelling to India by Dec 30, 2016 you may register your details for us to update if there are any pertinent latest developments or information on this matter," it said. Those who wished to register for the update could email their name, nationality, e-mail address, mobile number and their Indian rupee amount in possession to admin@mamsb.org.my, it said. -- BERNAMA