Rs 500 and Rs 1000 notes will be not be legal from 8th November 2016 midnight(New Rs.500 and Rs.2000 to be rolled out soon)
|New Rs.2000 and Rs.500 with enhanced security features|
Rs.500 and Rs.1000 notes will be accepted at following places till 11th November 2016.
- Railway counters
- Milk booths
- Bus ticket counters
- Crematoriums and cemeteries
- Petrol pumps and retail outlets will have to keep every single entry of cash transaction with 500 and 1000 notes till November 11.
Exchange of Rs 500 and Rs 1000 notes
- Can be exchanged from November 10th to December 30 through post offices and banks.Those unable to deposit Rs. 1000, Rs.500 notes by December 30 for some reason, can change them till March 31, 2017 by furnishing ID proof
Restriction in ATM Withdrawals
- ATM and banks will be closed on 9th November
- ATM will be partially opened on 10th November
- After 10th November ATM withdrawals will be restricted to Rs 2000 per day initially,after that withdrawals will be limited to Rs 10,000 a day and Rs 20,000 a week.
Online and other cash transactions
- Cashless fund transfer won't be affected by this
New notes of Rs.500 and Rs.2000
- New notes of Rs 500 and Rs 2,000 would be released and circulated soon
Ban of Rs 500 and Rs 1000:What you should Do?
- Kindly note the exceptions till 11th November 2016
- Exchange Rs 500 and Rs 1000 through post offices and banks from 10th November 2016
- Do not fall prey to counterfeit currency and black money holders(They may offer to exchange your notes )
- Depend only on banks and post offices to exchange notes