[NCUC-DISCUSS] ICANN 57 HSC advisory follow-up: Demonetisation of 500, 1000 rupee notes

[William Drake]

As promised to friends in Hyderabad, a message from security forward by NomCom staff

>  
> ICANN 57 HSC UPDATE – DEMONETISATION OF 500 AND 1000 RUPEE NOTES, PART TWO
> #04, 9 NOVEMBER 2016 – A FOLLOW-UP TO UPDATE #3
> DEMONETISATION – A RECAP
> The Indian government announced on short-notice that from 9 November onwards, 500 and 1000 rupee bank notes (bills) will no longer be legal tender throughout the country. The sudden move has been implemented to combat currency counterfeiting and money laundering by illegal groups, but has also caused disruption to legitimate economic activity. All banks across the country have been closed on 9 November, while ATMs will be out of operation until at 11 November; the government plans to have new, high-security replacement bank notes in the ATMs by then.
> 
> RECOMMENDATIONS: SPENDING, EXCHANGING AND CONVERTING 500/1000 RUPEE NOTES
> Unfortunately, the short-notice nature of this announcement has meant that it has been difficult to ascertain where travellers are able to spend 500/1000 rupee notes, have them exchanged for other notes, or have them converted into foreign currencies. The below points describe the best information we have on the situation as of the afternoon of 9 November; these details are subject to change on short notice.
> 
> At the airport
> 
> The government announced that foreign visitors will be able to exchange up to 5000 rupees’ worth of 500/1000 rupee notes at airports, receiving the same amount in smaller rupee denominations. However, vendors at Hyderabad’s Rajiv Gandhi International Airport have not been prepared to carry this out and as a result, this service is unavailable at the time of writing. One currency exchange counter has been able to exchange 100 rupee notes into foreign currency, but this is liable to change. The various exchange counters in the airport plan to begin exchange of all rupee note types from 21:00 tonight, but this is not guaranteed.
> 
> Airport security currently are not letting people into the departures area unless they have a flight ticket valid for today. At the time of writing, airline counters are reportedly only accepting 500/1000 rupee notes for payment for flights in “emergency” situations. There have been no reports of duty free retailers at the airport accepting 500/1000 rupee notes.
> 
> Banks, post offices and ATMs
> 
> All banks will be closed for the duration of 9 November, but plan to reopen on 10 November. You will be able to exchange up to 4000 rupees’ worth of 500/1000 notes into other denominations (Identification is required) at a bank or post office. If you require to hand in more than 4000 of notes, it is possible to have the money deposited or credited to a bank account. Large lines and associated disruption are likely to be prevalent in and around banks on 10 November. We recommend avoiding any large crowds associated with currency exchange, as long wait times may cause people to become irate and scuffles may ensue.
> 
> ATMs are currently out of operation, but should be functioning form 11 November onwards; once operational, you will be able to withdraw up to 2000 rupees per day for the first few days; this limit is expected to be increased to 4000 rupees in the near future.
> 
> At your hotel
> 
> So far, none of the ICANN 57 partner hotels have been able to exchange 500/1000 rupee notes for guests. Many of the hotels, including the Novotel, are trying to acquire small notes in order to facilitate exchanges, either late on 9 November or early on 10 November; however, this cannot be guaranteed. Most gift shops located in hotels will not give change for 500/1000 rupee notes, although a small number have been reported to accept the notes for guests making purchases.
> 
> RECOMMENDATIONS: PAYING FOR GOODS AND SERVICES
> The short-notice discontinuation of 500 and 1000 rupee notes has left some travellers unsure about how to pay for goods and services for the rest of their time in India. Here are some tips to minimise inconvenience when making payments:
> 
> Where possible, use a credit or bank card to make payments.
> If you require a taxi to the airport or some other service that your hotel can arrange, try having any associated charges put on your hotel bill. This way, you can then easily pay it off using a non-cash method.
> Consult with your hotel to get the latest on when/whether they will be able to exchange bank notes for guests.
>  
-------------- next part --------------
An HTML attachment was scrubbed...
URL: <http://lists.ncuc.org/pipermail/ncuc-discuss/attachments/20161109/d4221d48/attachment.html>