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From 1 September 2015, all applicants will get OCI cards and no U visa sticker, which results in not submitting their foreign passports for stamping, and the OCI cards of the individuals will be sent to their registered address.
The 'U' universal visa will be stuck on the OCI cardholders' foreign passport for the entry and exit in India from 29th January, 2015. The immigration authorities have also given guidelines to not allow any OCI cardholder to enter or exit India without the 'U' sticker visa on their foreign passport.
As far as I know, the immigration authorities have requested the ICPs not to insist production of the foreign passports that contain the 'U' visa sticker for the OCI cardholder entry and exit, and the immigration clearance will be given on the basis of the OCI card only.
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The government of India has announced an important update to provide the requirements for producing a foreign passport with a 'U' sticker visa for the OCI cardholders to get entry or exit from India. However, it is required that to enter and exit India, you must have a 'U' visa sticker on your foreign passport.
I have a 'U' visa sticker on my foreign passport, which helped me to get entry and exit in India smoothly. However, for the immigration clearance, you will need your OCI card.