FAQs and Highlights on 500, 1000 Rupees Denominations Banned in India


FAQs and Highlights on 500, 1000 Rupees Denominations Banned in India:

new-500-rupees-note
new-2000-rupees-note

On 8th November 2016, Tuesday the Prime Minister of India Narendra Modi had announced that cancellation of the legal tender character of the High Denomination bank notes of Rs.500/- and Rs.1000 denominations issued by Reserved Bank of India RBI.

To sort out the Fake Indian Currency Notes(FICN) and Black Money the Government had taken steps and this will effect from 8th November 2016.

PM Narendra Modi had also informed that new series Bank notes of Rs.2000/- and Rs.500/- denominations will be introduced from 10th November 2016.

Highlights:

  • The old 500 and 1000 rupees notes can be deposited by the individuals into their personal Bank Accounts on or before 30th December 2016.
  • About Rs.2000/- only can be withdrawn from the ATMs per day by using the card till 18th November 2016 and might be raised to Rs.4000/- per day per card from 19th November 2016.
  • The candidates can withdraw about Rs 10,000 a day and Rs 20,000 a week from the Bank till 24th November 2016.
  • The candidates missed to exchange the Old 500 and 1000 rupees notes on or before 30th December 2016 can change the notes after producing the necessary documents specified by RBI.
  • ATMs will be remained closed on 9th and 10th November 2016 and Bank branches, Government Treasures will open from 10th November 2016.
  • Old notes will be accepted at Hospitals, Railway ticket counters, airline ticket counter, milk counters, crematoria/burial grounds, petrol/diesel/gas stations for the 1st 72 hours.

http://www.finmin.nic.in/press_room/2016/press_cancellation_high_denomination_notes.pdf
http://finmin.nic.in/
https://www.rbi.org.in/



  • Ravi

    Is it true that Rs.500, Rs.1000 old notes can be exchanged upto Rs.4000/- in the Bank?

  • Sanjana

    May i know the list of centres, Banks and Post Offices where the old 500 and 1000 rupees notes can be exchanged?

  • Mano

    What is the last date mentioned for the changing the Old 500 and 1000 rupees Indian currency notes

  • Kannan

    When will be the New 1000 Rupees notes issued by the RBI

  • Sundar

    Need the list of ATMs located in Madurai with the contact address

  • Akshay

    Will be the 500 and 2000 Rupees notes available in Bank ATMs

  • Sanjay

    Had the New 1000 Rupees note released by the RBI

  • Ashish

    Any website or App available to get the list of Bank ATM with cash