Today’s one of the biggest new announced by honorable prime minister Shri Narendra Modi on 08 Nov, 2016 – i.e. Ban on Rs. 500 & Rs. 1000 currency notes with immediate effect. So many people appreiciate Mr Modi for this bold decision and few of them are not happy with this and start blaming to Modi.
Narendra Modi gives us 50 days to change your 500rs and 1000rs note in India. He has declared that 500rs will be continue with new notes and 1000 rs note will not be continued in currency. It will be not consider legal tender of exchange and it will be effective from today 12 AM. To manage all the things Banks and ATM will be closed tomorrow. Let us share information about exchange Rs 500 & 1000 notes
How to exchange your 500rs and 1000 rs note
1) You can deposit your 500rs and 1000rs notes to any bank and post till 10th November to 31st December 2016. So don’t worry about your money till 50 days. If you are not able to submit those money till 31st December than it will not consider as a valid and it should be considered as piece of paper.
2) Your all transaction of exchange will be under CCTV camera. You can only exchange 4000rs note of 100rs against 500rs and 1000rs note.
3) From Monday onwards you can only withdraw 10000 in a single day and 20000 rupees in the week.
4) All retail outlet will accept Rs. 500 note and 1000 note to continue normal work and they have to keep the record of all the transaction.
5) If you are not able to exchange your money within this 50 days than you can change it all the money by 31st March 2017 in reserve bank of India directly.
6) Tourist who came out of India can exchange 500 and 1000 Rs notes from Airport directly.
7) Petrol pump, CNG Pump, railway, bus, and airports will accept 500 & 1000 notes till 72 hours