Here Is What You Can Do With Your Rs 500, Rs 1000 Notes

Here Is What You Can Do With Your Rs 500, Rs 1000 Notes

Prime Minister of India – Narendra Modi has announced that the Indian currency notes of Rs 500 and Rs 1,000 will not be valid anymore.

 

Refer below to know about this in detail:

There will soon be a fresh batch of Rs 500 and Rs 2,000 notes in the market. A proposal for the new notes has already been cleared by the RBI – Reserve Bank of India.

 

Refer below to know about this in detail:

 

Here Is What You Can Do With Your Rs 500, Rs 1000 Notes:

 

  • Deposit/Exchange old notes of Rs. 500 and 1000 in banks or post offices between November 10 and December 30, 2016 without any limit.
  • Those who are unable to do it on the above mentioned period, will get another chance to exchange notes till March 31, 2017 at specified RBI offices after furnishing proper declaration.
  • The notes can also be used at designated Hospitals, Drug Stores, Railways, Airline Bookings and fueling stations till Nov 12.
  • There will be an initial limit of Rs. 10,000 per day and Rs. 20,000 per week on withdrawal of money. This limit is to be increased soon.
  • ATMs will not function on November 9 and at some places on November 10 as well.
  • Arrangements have been made at Airports so that travelers entering/leaving the country are not inconvenienced.
  • Deposit old notes of Rs. 500 and 1000 in banks or post offices between November 10 and December 30, 2016.

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