Indian Prime Minister Mr. Narendra Modi bans 500 & 1000 notes from midnight of 8th Nov 2016. So now Old 500 and 1000 Notes are only a paper but You have 50 days to deposit that notes of Rs 500 & Rs 1000 in any Bank or Post office which says by Narendra Modi.
PM Narendra Modi addresses the nation at 8 PM today. The address is first in Hindi followed by English.
To down the black money Modi withdraws old notes, Indian Government introduce new Rs 500, Rs 2k notes. They said this Move aimed to flush out black money hoarders, counterfeit notes.
If you have 500 and 1000 Rupee note then here we show how you can change with new notes. Check out below the all information about how to Exchange Rs. 500 and Rs. 1000 Notes from now.
How to Change 500 and 1000 Rupee Notes in bank and Post Office – What’s the Limit to Deposit everything you want to know
“You have 50 days (From 10 November to 30 December) to deposit notes of Rs 500 and Rs 1000 in any bank or post office,” he said.
“Currency notes of Rs 1000 and Rs 500 will be just paper with no value. These notes should be exchanged in banks and post offices within December 30, 2016,” PM reiterated.
“There will be respite for people for the initial 72 hours, government hospitals will accept old Rs 500 and 1000 notes till 11 November midnight. On November 9 and in some places November 10, ATMs will not work. There will be no change in any other form of currency exchange be it cheque, DD, payment via credit or debit cards etc,” he said.
“On November 9, all banks will remain closed for public work,” he further said, adding, “Notes of Rs 2000 and Rs 500 will be circulated soon, RBI has decided to limit the notes with higher value.”
“This government is dedicated to the poor, and will continue to do so. With the help of the citizens of India, India has emerged as a bright spot in world economy,” he said.
He added, “India has registered itself as a bright spot, and its not that this is a claim made by us, but by IMF and World Bank.”
Outlining the work done by his government he said, “In all our policies, we are dedicated for the upliftment of entire society. Government has been working on the principles of Sabka Saath, Sabka Vikas.”
Speaking on terrorism he said, “Our enemies from across the border run their business with counterfeit notes and it has been going on for years.”
“Black money and corruption has taken roots in the country, these are the biggest obstacles in eradicating poverty, We have taken many steps to curb black money,” he said.
“There is a time when you realise that you have bring some changes in society, and this is our time to feel the same,” the PM said.
“Over the last 2 and a half years, 1.25 lakh crore worth of black money has been recovered,” he pointed out.
Here’s what you need to do with your Rs. 500 and Rs. 1000 notes / How you can exchange old notes with new one.
- 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 isRs. 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 Rs. 500 and Rs. 1000 notes be accepted till November 11 at:
- For 72 hours Government Hospitals will continue to accept old 500 & 1000 notes for payment.
- For 71 hours Railway Ticket Booking Counters, Ticket Counters of Govt buses & airline ticket counters at airports will accept the old tickets for purchasing tickets.
- 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.
Note : Info are taken from the online various website….