Application to Exchange Rs 500 Rs 1000 Notes in Banks

Application to Exchange Rs 500 Rs 1000 Notes

Application to Exchange Rs 500 Rs 1000 Notes in banks (draft/model) available here to download. Details on how to exchange old Rs 500, Rs 1000 notes n banks and post offices with draft application available here.



How to Exchange Rs 500 Rs 1000 Notes

Prime Minister Narendra Modi’s announcement about the discontinuation of existing Rs 500 and Rs 1,000 notes from midnight of 08.11.2016 Tuesday has become hot topic across the country. Now every one waiting to exchange their Rs 500 Rs 1000 notes. There are two ways to exchange Rs 500 Rs 1000 Notes by either depositing the notes in bank accounts / post offices accounts or exchange it in banks / post offices with a valid ID proof. The details of Exchange Rs 500 Rs 1000 Notes are mentioned below:

Exchange Rs 500 Rs 1000 NotesProcedure for deposit Rs 500 Rs 1000 Notes in  Banks / Post Offices

Persons have 50 days from 09.11.2016 to deposit notes of Rs 500 & Rs 1000 in any Bank or Post office. During this 50 day period, i.e. from 10.11.2016 to 30.12.2016 there will be no limit on the deposits, However, a withdrawal limit of Rs 10,000 per day and Rs 20,000 per week will be applicable. This withdrawal limit will be gradually increased soon. If one fails to deposit these existing notes by 30.12.2016, can exchange them till 31.03.2017 at RBI by furnishing ID proof and other declarations.

Procedure for exchange Rs 500 Rs 1000 Notes in  Banks / Post Offices

Citizens have 50 days from 09.11.2016 (i.e. from 10.11.2016 to 30.12.2016) to exchange existing Rs 500 & Rs 1000 notes in any Bank, Head Post office or Sub-Post office. They can exchange up to Rs 4000/- only till 24.11.2016 with an application and ID card proof. The limit on exchange of existing notes may increase soon.




Draft Application to Exchange Rs 500 Rs 1000 Notes

Draft  Application to Exchange Rs 500 Rs 1000 Notes mentioned below. any one of ID proof like Pan card, Voter ID, and aadhar card required to submit along with the application at banks / post offices.  There will be no change in any other form of currency exchange be it cheque, DD, payment via credit or debit cards etc. Notes of Rs 100, 50, 10 and coins of all denominations will remain legal tender and will not be affected.

For more details on Rs 500 Rs 1000 notes ban visit PM official website or  RBI official website to download full information.  or click here to download Draft  Application to Exchange Rs 500 Rs 1000 Notes.