How to Exchange Old Rs. 500 and Rs.1000 Currency Notes

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How to Exchange Old Rs. 500 and Rs.1000 Currency Notes

Leader Narendra Modi has chosen to scrap the notes of Rs. 500 and Rs. 1000 to stop the spread of fake notes, which is helping fear exercises from over the outskirt, and flush out dark cash. In any case, there won’t be any change for different notes. The Rs 500 and Rs 1000 notes might be justified regardless of the paper they are imprinted on.

The most effective method to Exchange Old Rs. 500 and Rs. 1000 Currency Notes:-

If you have these notes then you can trade them inside 50 days i.e; from 10th November to 30th December 2016.

How to Exchange Old Rs. 500 and Rs.1000 Currency Notes

  • The Rs 500 and Rs 1000 can store in any bank or mail station.
  • Other than keeping cash in financial balances, the Rs 500 and Rs 1000 notes can likewise be traded with lower division coin notes at assigned banks and post workplaces by displaying any of the accompanying government character proofs.

Required Identification Proofs:-

  •  PAN Card
  •  Aadhaar Card
  •  Election (Voter ID) Card

Just Rs. 4000 can be traded every day till 24th November.

Restrictions on Withdrawals:

  • ATM withdrawals will be limited to Rs 2000 every day.
  • Withdrawals from Bank will be limited to Rs 10,000 a day and Rs 20,000 a week.
  • Not withstanding, there are no confinements on card installment, check, request draft, electronic assets exchange.

Where would I be able to use my Rs 500, Rs 1000 notes?

Till November 11, the accompanying government-approved spots and foundations will keep on accepting Rs 500 and Rs 1000 notes for installment:-

  • Hospitals
  • Railway, airline, bus ticket booking counters
  • Petrol, diesel and gas stations authorized by public sector oil companies
  • Consumer co-operative stores
  • Milk booths
  • Crematoriums and burial grounds

Will The Govt Issue New Notes?

A proposition for new 500 and 2,000 rupee notes has been cleared by the Reserve Bank of India which will be issued from 10th November.

 

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