Prime Minister Narendra Damodardas Modi on Tuesday Declared Rs 500 & Rs 1000 Notes As Invalid Currency From Tuesday Midnight to Tackle Rampant corruption and counterfeit currency.
There will be no change in any other form of monetary exchange -- cheque, DD, payment via credit or debit cards, he said.
Your Rs. 500 and Rs. 1000 notes be accepted till November 11 at:
1.Petrol Pumps and government hospitals
2.Railway, airline, government bus ticket booking counters
3.Consumer co-operative stores run by state or central government
4.Milk booths authorized by state governments
5.Crematoriums and burial grounds
Where can I exchange/ deposit my Rs 500 and Rs 1000 notes?
From November 10 till December 30 you can deposit the old notes at
your nearest bank or post office accounts without any limit. But
withdrawals from banks are capped at Rs 10,000 per day and Rs 20,000 per
week. This limit will be increased in the coming days.
You can also exchange Rs 500 and Rs 1000 notes for lower denomination
at banks, head post offices and sub-post offices. However, the exchange
limit has been capped at Rs 4,000, and you can exchange till November
24. One must produce a valid government identity cards like PAN, Aadhaar
and Election Card.
The Reserve Bank of India would soon release and circulate new notes of Rs 500 and Rs 2,000.
Here's what the new Rs 500 note will look like:
And, here is what the new Rs 2,000 note will look like:
