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How to change Rs 500 1000 Notes Online

How to change Rs 500 1000 Notes

How to change Rs 500 1000 Notes after 08.11.2016. Prime Minister Sri, Narendra Modi While addressing the country on 08.11.2016 announced that existing Rs 500 and 1000 Notes will be Withdrawn from 08.11.2016 midnight. Exisitng Rs. 500 and 1000 notes must be deposited at post offices and banks by the end of December 2016.

How to change Rs 500 1000 Notes

How to change Rs 500 1000 NotesPrime Minister Narendra Modi on 08.11.2016, Tuesday announced demonetisation of Rs. 500 and Rs. 1000 notes with effect from 08.11.2016 midnight, making these notes invalid in a major assault on black money, fake currency and corruption.

As per Prime Minister Narendra Modi announcement, existing Rs. 500, Rs. 1000 notes illegal from midnight of 08.11.2016, new notes to be issued, Citizens have 50 days from 10.11.2016 to return notes at banks, post offices. Banks and ATMs closed to public on 09.11.2016, Wednesday. Rs. 2000 and Rs. 500 notes will be circulated soon and RBI has decided to limit the notes with higher value.

The procedure How to change Rs 500 1000 Notes  is as follows:

  • Rs. 500 and Rs. 1000 notes will not be used from 09.11.2016.
  • Citizens have 50 days from 10.11.2016 to return notes at post offices, Banks. One can deposite existing notes with in 50 days in banks and post offices, by providing a valid identity proof such as Aadhaar, PAN card or voter ID card.
  • There will be no change in any other form of currency exchange be it cheque, DD, payment via credit or debit cards etc.
  • This is . Those unable to deposit Rs. 1000, Rs. 500 notes by 30.12.2016 for some reason, can exchange it at Reserve Bank of India till March 31, 2017 by providing a declaration and by furnishing ID proof.
  • Banks will have video cameras for all transactions, people must be careful while exchanging legal cash
  • A new series of Rs. 500 currency notes and Rs. 2000 currency notes will be brought into circulation. RBI shows the specimen notes of new Rs. 500 and Rs. 2000 notes.
  • There is no restrictions on internet banking, cash, demand draft transactions. Rs 10,000 daily cash withdrawal and Rs 20,000 weekly cash withdrawal limit.

Download Rs 500 1000 Notes Withdrawn Details

For more details visit PM official website and download full speech. For more updated details about How to change Rs 500 1000 Notes visit RBI official website and other news websites.