Dr Thomas Abraham, Chairman of the Global Organisation of People of Indian Origin, confronted RBI Governor Dr Urjit Patel during a talk at Columbia University. Diaspora Indians with foreign citizenship are not allowed to deposit or exchange their demonetised Indian currencies and many who travelled to India were turned down by the Reserve Bank of India at five of its branches, which currently still accept banned currencies from NRIs who are Indian citizens.
GOPIO estimates that OCI card holders and non-OCI card holders with foreign citizenship possess over £500 million worth of demonetised currencies. “This is gross injustice to more than 50 per cent of the overseas Indians who have been deprived of their hard-earned income,” said Abraham. The organisation had launched an online campaign appealing to Prime Minister Narendra Modi to allow OCI/PIO card holders as well as diaspora Indians with foreign citizenship to deposit or exchange their demonetised Indian currencies at the Reserve Bank of India. Abraham presented a copy of all issues and comments raised by diaspora Indians. “This is a major issue for the diaspora Indians and it is a created issue and needs to be resolved,” said GOPIO International President Niraj Baxi.
“Indians who left India to earn their living should not be deprived of their hard-earned money because they were not in India to deposit the demonetised notes when Indian banks were accepting the notes,” Abraham said.
