On 8th November midnight onwards old 500 indian rupees has withdrawn by govt to replaces new 500 rupees and also 1000 rupees has banned for due to action on corruption. Hence Reserve Bank of India has announced new 500 and 2000 rupees notes will comes to all bank on 10th November onwards.
Those who all having 500 and 1000 rupees notes they can able to change through govt offices like postal, govt hospitals, petrol bunk and many more facilities are arranged for the public inconvenience.
Here is the procedures of converting old to new currency. Also there is an limited time to be convertible.
In a major step to check black money, Prime Minister Narendra Modi on Tuesday announced demonetization of Rs 500 and 1000 currency notes with effect from midnight, making these notes invalid in a major assault on black money, fake currency and corruption. In his televised address to the nation, Modi said people holding notes of Rs 500 and Rs 1000 can deposit the same in their bank and post office accounts from November 10 till December 30.
A proposal for new 500 and 2,000 rupee notes has been cleared by the Reserve Bank of India.
- Here’s what you need to do with your 500 and 1000 rupee notes.
- Deposit them at the bank or post office from November 10 to December 30
- Exchange them from a bank or post office till 24 November. The limit for exchange is Rs. 4000
- Take Aadhaar card and PAN Card when you go to exchange notes
- After December 30, these can be deposited at the Reserve Bank with a declaration
- Tourists can change the notes at airports
Your 500 and 1000 rupee notes be accepted till November 11 at:
- Petrol Pumps and government hospitals
- Railway, airline, government bus ticket booking counters
- Consumer co-operative stores run by state or central government
- Milk booths authorized by state governments
- Crematoriums and burial grounds