Wednesday, November 9, 2016

India currency

Goodbye, Rs. 1,000, Rs. 500
Notes of Rs. 1,000 denomination have been demonetised. Get your hands on brand-new Rs. 500 and Rs.
2,000 notes from November 10th, 2016.
Deposit At Banks And Post Offices
Deposit old Rs. 500 and Rs. 1,000 notes between November 10th, 2016 and December 30th, 2016.
There is no limit on bank deposits. NRIs can deposit notes into their NRO accounts.
Exchange Those Notes
Exchange old notes at any commercial banks, regional rural banks, urban cooperative banks, state
cooperative banks and the RBI while showing ID proof until November 24th, with a daily limit of Rs.
4,000.
Withdrawal Limits
 ATM withdrawals: Withdraw up to Rs. 2,000 per day per card between November 10th and
18th. Withdraw up to Rs. 4,000 per day per card from November 19th onwards.
 Cheque/Withdrawal slip: Withdraw up to Rs. 10,000 per day and an overall limit of Rs. 20,000
per week (including ATM withdrawals) until November 24th.
Emergency Medical and Travel Needs
You can use the old currency notes within 72 hours of the RBI notification for: Paying hospital charges at
government hospitals, bus tickets at government bus stands for travel on state government buses or
state PSU buses, train tickets at railway stations and air tickets at airports.
Cashless For The Win
There’s no restriction on any kind of non-cash payments such as cheques, demand drafts, Debit Cards,
Credit Cards and electronic transfer.

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