Prime Minister Narender Modi Decided to Scrap the notes of Rs 500 or Rs 1000 to stop the spread of counterfiet notes, which is helpful in Flush out black money in India and terror activities accross the border. The Rs 500 or Rs 1000 Notes will only be Worth the paper they are printed on.
However, you can exchange your Rs 500 or Rs 1000 Notes till 31 Dec 2016 !!
How to Exchange Your Old Rs 500 and Rs 1000 Currency Notes:
- You can Deposit Your Old Rs 500 and Rs 1000 Notes in any bank & Post Office.
- You can also Exchange Your Rs 500 and Rs 1000 Notes With New Currency notes in any bank With Valid Goverment ID Proof. You can Choose any one ID card from below list.
- PAN CARD
- AADHAR CARD
- VOTER ID CARD
- You can exchange only Rs 4000 per day till Rs 24 November
Restriction On withdrawal:
- You can withdraw Max of Rs 2000 Per day On ATM
- You can withdraw Max of Rs 10000 Per day and Rs 20000 a week.
New Notes of Rs 500 or Rs 1000 :
Govt. and RBI Lauched New Notes of Rs 500 or Rs 1000 which is issued from 10 Nov 2016. You can check it below.