Quote:
Originally Posted by KD007
Wife found some more old notes, is there still a process to change them or should I just forego it? |
There was a window given till March 31, 2017 for resident Indians' cases like yours, but (like many other changes, U-turns & flip-flops) this window was eventually shut (firmly!) without any (official) warning at all, at least for resident Indians.
So now your options have become very limited indeed:
--> 1) The
best bet (& perhaps the
only option!) for obtaining the face value of the now worthless paper is this -> search for anyone in your circle (draw this circle as wide as possible) of family, friends, colleagues etc. who has been abroad for the entire period between Nov. 8 & Dec. 30 and request them to exchange the notes for you.
If you do find manage to find such a person, he/she may already have plenty of notes of his/her own (& others as well) to exchange. So it may become necessary to offer help - offer a ride to the designated RBI office
or (even partly) sponsor their travel/commute
or accompany the person & stand in the queue for a while/get the person refreshments etc.
--> 2) Seeking/creating shortcuts &
jugaads is a beloved
way of life for Indians! Just ask the government & RBI - they initially expected/estimated that a sizeable quantity of the demonetised notes would
never return, thereby
grossly under-estimating the shortcut-creating &
jugaad-seeking nature of their fellow citizens.
Those mentioned in the first option (i.e. resident Indians who were abroad during the period) will be in great demand for their services. So it's only natural that some of them may decide to make it (monetarily) worthwhile to help others.
I believe if you stand outside any of the 5 designated (for exchange) RBI offices, there will be a few (or at least one or two) everyday who may offer their services for a fee, or agents who make use of their services & canvass on their behalf (for an additional fee of their own).
Such fees are likely to be in the form of
a percentage of the money exchanged for you, and the said %
isn't likely to be low.
--> 3) Keep the notes as
collectibles that can possibly(?) fetch a decent price several years down the line (maybe even decades or generations). But please
beware! You would be (shockingly!) breaking the law if you retain more than Rs. 10,000 "worth" of the now worthless paper with you, and you're liable to be punished for this if the government finds out!
--> 4) Design & create or make objects out of the demonetised notes or by utilising 'em now worthless paper. Then sell the said products, either online or through offline methods.
I can provide one idea (among many possible ones) to create an everyday object that would act as a very worthy, crystal-clear reminder of the
Great Indian Demonetisation Drive of 2016 - "entombing" the "dead" notes in solid glass! Yes, glass paperweights containing the notes shouldn't be that difficult to make and sell. In addition, if the note within the paperweight gains significant collectible value, the glass can be broken and the note can be sold!!!
--> 5) It's
never a bad time to donate or to be charitable. Though it may sound like a stupid or even an uncouth idea, anonymously dropping one or more of the notes in different
hundials of religious places and/or into collection boxes can be considered as an option. The ones who manage such boxes
may be able to realise at least a part of the notes' face value, after all!
--> 6) If you're an animal lover, find a hungry cow & feed the poor creature. But before that, kindly remove the security threads from the notes, as they may not be made of a bovine digestible substance.
--> 7) Any combination of the above
Unfortunately, that is all I can think of, for now.