The Australian government, while continuing to maintain its risk levels on a high degree of caution for India, updated its advice instructing its citizens to not accept any denomination higher than Rs 100 until the new currency is released.
The latest DFAT advice was issued on November 9, 2016 and the level of advice has not changed since then.
Update by Department of Foreign Affairs and Trade (DFAT):
- Indian authorities have announced that all 500 and 1,000 rupee banknotes will be withdrawn from circulation. The banknotes are no longer legal tender and must be exchanged by the end of 2016. There are limits on the exchange of currency at banks and on withdrawals of cash from ATMs. See the Money and valuables section under for more information.
- Until new banknotes are issued, you should not accept any denomination higher than 100 rupees (around AUD 2). See the website of the for more information.
DFAT's Travel Advisory to India Source: DFAT
According to Indian tourism ministry’s website, in the months of November and December tourist arrival is highest in India. Out of 8 million foreign tourists who visited India in 2015, more than 1.7 million arrived only in these two months.
New Delhi’s Indira Gandhi International Airport Announcement: “As per the Government of India notification, Rs.500 and Rs.1000 currency notes will not be accepted by any of the Retail Outlets at Delhi Airport effective 00:00 hrs of 9th Nov 2016.”
According to Economic Times, Indian banks and ATMs are struggling to cope-up with the daily cash needs while thousands of ATMs are still not functional.
Long lines are seen at the banks and ATMs, and it seems it may take some time for before the proper supply is maintained the new currency.
An Economic Times expert advises: “Do not accept bank notes that have been taken out of circulation. If you find yourself short of funds, seek establishments that will accept your foreign credit card or mobile wallet application (load with a local card only.)”
