Nov 082016
 

500 and 1000 rupee notes will be Discontinued from Midnight

500 and 1000 rupee notes will be Discontinued from Midnight

Our PM has made this brave declaration that rs 500 and Rs 1000 notes will not tender from 9th November midnight. This has been done to curb the black money from Indian Market.

These steps has been taken so that all the black money that has been circulating in the form of cash to vanish. Ramdev Baba has been saying this since long time.

500 and 1000 rupee notes will be Discontinued from Midnight | ATM will be closed on 9th and 10th November | Banks will be closed on 9th November | How to change old Notes | ATM cash Limit | New Rs 500 Note and New Rs 2000 Notes

From 10th November 2016 to 30th Dec 2016 you can change old currency notes with new one or can deposit them in your bank.

This is the biggest change in India history ever. This is really going to change the Indian economy as all the black money that was unaccounted will flow in main economy.

From 30th Dec on wars you can withdraw rs 20,000 weekly.

Bank will issue New Rs 500 and Rs 2000 Notes.

ATM will be closed on 9th and 10th November

ATM will not work on 9th and 10th November, You can withdraw only rs 2000 from ATM for few days after these  2 day. Then the Limit would be increased to rs 4000.

Banks will be closed on 9th November

All banks will be closed tomorrow that is on 9th November 2016. This has been done so that bank employees have sufficient time to understand this decision.

How to change old Notes 

You can use your old rs 500 and Rs 1000 notes at Hospitals, Petrol Pumps, Airports, Railway Station, kendriya bandhar, Safal, Medical shop these can be done only till 11th November 2016. After that you can exchange your old notes with the new notes from Banks and Post office.  You will have to provide your valid id for this exchange.  Banks and Post office will vedio record this and they will also have to inform the Income tax department for the same.

ATM cash Limit 

ATM cash limit has been reduced, you can withdraw only Rs 2000 daily which would be increased to rs 4000 daily. There is also a weekly ATM cash limit withdrawal limit of rs 20,000.

New Rs 500 Note and New Rs 2000 Notes

RBI will issue rs 500 and Rs 2000 for cash transactions in future. The new Rs 500 Note would be called the Mahatma Gandhi Series of New Notes, front side of this note will have a photo of Mahatma gandhi back side will have a photo of Red Fort and Swachh Bharat.  New rs 2000 note will have Mangal Yaan Photo.

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