Tuesday, November 8, 2016

What To Do With 500 And 1,000 Rupee Notes


HIGHLIGHTS


  2. Exchange Rs. 500, Rs. 1000 notes at banks, post offices till Dec 30
  3. Citizens must present Aadhar card and PAN card to exchange old notes
  4. After Dec 30, old notes can be exchanged at RBI with a declaration
 To stop the spread of counterfeit notes, which is aiding terror activities from across the border, and flush out black money, the government has decided to scrap the notes of Rs. 500 and Rs. 1000, Prime Minister Narendra Modi said on Tuesday. Starting midnight, these notes will only be "worth the paper they are printed on," he said.

 A proposal for new 500 and 2,000 rupee notes has been cleared by the Reserve Bank of India.
There will be no change in any other form of monetary exchange -- cheque, DD, payment via credit or debit cards, he said.

 Here's what you need to do with your 500 and 1000 rupee notes.
Deposit them at the bank or post office from November 10 to December 30
Exchange them from a bank or post office till 24 November. The limit for exchange is Rs.4000
Take Aadhaar card and PAN Card when you go to exchange notes
After December 30, these can be deposited at the Reserve Bank with a declaration
Tourists can change the notes at airports

 Your 500 and 1000 rupee notes be accepted till November 11 at:
Petrol Pumps and government hospitals
Railway, airline, government bus  ticket booking counters
Consumer co-operative stores run by state or central government
Milk booths authorized by state governments
Crematoriums and burial grounds
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