85 breached
The Indian rupee has breached the significant psychological barrier of 85 against the US dollar, marking an all-time low amid a confluence of domestic and global pressures.
Several "ineligible" people were queuing up at Reserve Bank of India (RBI) counters to deposit demonetised notes, Parliament was informed on Tuesday.
"Several people who are ineligible queuing up at RBI counters making the queue longer," Minister of State for Finance Arjun Ram Meghwal told the Rajya Sabha in a written reply.
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"As each application has to be checked at the counters for his/her absence from the country from passport stamp marks, it is taking considerable time for counter staff. It is compounded by the incomplete documentation," he said.
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Long queues are formed at Mumbai and Delhi only as large number of persons from the neighbouring states are turning up and several staff members have been engaged to attend to the large number of people turning up at the counters, Meghwal said.
"An officer of the rank of General Manger has been assigned the task at Mumbai Office. Department of Currency Management, Central Office have been advising the specific offices to deal with applicants with more sensitivity," he said.
As the last date for deposit by residents, who were not in India during the period from November 8 to December 30, 2016, is approaching more people are turning up, the Minister added.
The grace period for Indian citizens residing in India, who were abroad during November-December, 2016, is upto March 31, 2017 and for Indian citizens resident outside is up to June 30.
The facility for exchange of Old currency notes is available at the RBI offices in Mumbai, Delhi, Chennai, Kolkata and Nagpur.
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