As part of sweeping steps to battle black money, Prime Minister Narendra Modi announced that Rs 500 and Rs 1,000 currency notes will cease to be legal tender from midnight of Tuesday.
What you can do with your old notes
You can deposit Rs 500 and Rs 1,000 notes in your bank or post office account between November 10 and December 30
You can exchange Rs 500 and Rs 1,000 notes at any bank, post office or sub post office, showing ID proof, till November 24. However the the limit of this exchange will be Rs 4,000
Withdrawal limit
Withdrawal limit from bank and post offices is Rs 10,000 a day, and Rs 20,000 a week. However, this limit may be raised in the future.
Withdrawals from ATMs will be limited to Rs 2,000/day per card. This will be raised to Rs 4,000 later
No ATMs on Wednesday
ATMs will not work on November 9 and in some places on November 10 also
Where else old notes will be accepted
Following services will accept Rs 500/Rs 1,000 notes for next 72 hours
- Government hospitals
- Railway ticket booking counters
- Government buses
- Ticket counters at airports
- Petrol, diesel and gas stations authorised by public sector oil companies.
- Consumer cooperative stores authorised by state or central government
- Milk booths authorised by state government
- Crematoria and burial grounds
(With inputs from agencies)
