How to Exchange 500 and 1000 Notes (Banned By Indian Government)

By | November 10, 2016

How to Exchange 500 and 1000 Notes , find here is the measures you can take to exchange and deposit old currency notes with new 500 & 2000 notes.

India Banned Rs 500, 1000 Rs Notes From Today (9th November 2016): A big blast from Government of India and Prime Minister Mr. Narendra Modi to counter black money and fake currency notes which circulating in the market at a very fast pace. Today just few hours earlier Prime Minister has announced that from now onward RS 500 & RS 1000 currency notes will be cancelled. But many people in the country were in deep tension that what they can do with those currency notes which they are having in cash, Prime Minister has given practical to exchange those currencies and to deposit in banks. Check all the measures very carefully and do deposit all your money before deadline. Government has announced that people can deposit their money from November 10th 2016 and last date for it is December 31st 2016.

How to Exchange 500 and 1000 Notes in Bank 

  • People can deposit their old currency notes of RS 500 & RS 1000 in banks or post offices starting from 10th November 2016 till 31st December 2016.
  • Those who fail to deposit old notes until given dead line, they have to visit nearest Reserve Bank of India office to deposit it and they will also accept it will March 31st, 2017.
  • In starting dates there will be shortage of new currency notes, so government has fixed withdrawal limit of RS 10000 per day and RS 20000 per week, this will increased soon.
  • People can also exchange old currency notes in cash at banks or post offices; exchange limit is RS 4000 by producing valid ID proof.
  • It is mandatory for all hospitals and drug stores to accept old currency notes of RS 500 & RS 1000 until November 12th, 2016.
  • Government has done all necessary arrangements at all international airports of the country so that any people who are leaving or entering the country will not face any major problems.
  • Even fuel stations and gas stations have to accept old currency notes until November 12th, 2016.
  • Fuel stations and retail stores have to keep all details of old currency notes in written till November 1th, 2016.
  • To make all necessary measures for ease of work, government has announced that ATM machine will not work on November 9th and at some place November 10th
  • There will be no hindrance to any legal transactions like payment made through cheques, demand drafts, debit & credit cards and online payment modes.

How to Exchange 500 and 1000 Notes

Indian Announces 2000 Rupee Note Circulation {Watch Video}

Important Dates to Remember:

  • Deposit of old currency notes in Banks & Post Office will Start From: November 10th, 2016
  • Last date to Deposit old currency notes: December 31st, 2016
  • Last date to Deposit in RBI: March 31st, 2017

If you have any queries relating to what you can do with old RS 500 & RS 1000 Currency Notes then you can write us in a comment box provided below, we will help you with suitable answers as soon as possible and please visit this website again for more updates by bookmarking it with CTRL+D buttons.

For More Information Click Here  ———> Easy Method to Exchange 500 and 1000 Notes

NOTE: RS 10 to RS 100 currency notes are working as it is, so people should not get panic with amount they are having of these currency notes but read this artical which will teach you How to Exchange 500 and 1000 Notes.

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