How to Exchange Rs. 1000 and Rs. 500 Notes
Arun Saini May 15, 2017 Information No Comments
Indian Govt. Banned Rs. 1000 and Rs. 500 Notes from 9th of November. New designed notes are issuing from 11-11-2016 from ATM or you can exchange them from any bank from 10th November 2016.
To stop the spread of counterfeit notes, which is aiding terror activities from across the border, and flush out black money, the government has decided to scrap the notes of Rs. 500 and Rs. 1000, Prime Minister Narendra Modi said on Tuesday. Starting midnight, these notes will only be "worth the paper they are printed on," he said.
1 New Rs. 500 and Rs. 2000 Notes Design
1.1 2000 Rupee Note instead of 1000 Rupee Note
2 How to Exchange 500 Rupee and 1000 Rupee Notes
New Rs. 500 and Rs. 2000 Notes Design
1. See-through register with denominational numeral 2000 can be seen when the note is held against light
2. Latent image with denominational numeral 2000 which can be seen when the banknote is held at 45 degree angle at the eye level
3. Denominational numeral 2000 in Devanagari
4. Portrait of Mahatma Gandhi in the centre
5. Micro letters 'RBI' and '2000'
6. Colour shift windowed security thread with inscriptions 'Bharat', RBI and 2000. Colour of the thread changes from green to blue when the note is tilted
7. Guarantee Clause, Governor's signature with Promise Clause and RBI emblem towards right
8. Mahatma Gandhi portrait and electrotype (2000) watermarks
9. Number panel with numerals growing from small to big on the top left side and bottom right side
10. Ashoka Pillar emblem on the right
For visually impaired
11. Raised printing of Mahatma Gandhi portrait, Ashoka Pillar emblem, based and identification mark
12. Horizontal rectangle with Rs 2000 in raised print on the right
13. Seven angular bleed lines on left and right side in raised print
14. Year of printing on the note
15. Swachh Bharat logo with slogan
16. Language panel towards the centre
17. Motif of Mangalyan – reflecting country's first venture in the interplanetary space
2000 Rupee Note instead of 1000 Rupee Note
1000 rupees notes are completely banned. New 2000 rupee note is introduced in the market from 10 November.
How to Exchange 500 Rupee and 1000 Rupee Notes
Here's what you need to know and do in the next few days, If you have all white money you don't need to worry at all you have time till 30 December to exchange your notes.
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.
Banks will remain closed on November 9 allowing them time to cope with the new directive.
There is no restriction of any kind on non-cash payments by cheques, DDs, debit or credit cards and electronic fund transfer.
What are the restrictions on ATM withdrawals?
ATMs will not work on November 9 and in some places on November 10. But from November 11, you can withdraw money and ATMs will stop dispensing the existing Rs 500 and 1000 notes. For the first few days, these withdrawals are being restricted to Rs 2,000 per card per day, and will later be increased to Rs 4,000 per card per day.
Where can I still use my Rs 500, Rs 1000 notes?
Till November 11, the following government-authorised places and institutions will continue to accept Rs 500 and Rs 1000 notes for payment:
— hospitals
–Railway, airline, bus ticket booking counters
–Petrol, diesel and gas stations authorised by public sector oil companies
–Consumer co-operative stores
–Milk booths
–Crematoriums and burial grounds
Where can I get the new currency notes?
RBI will issue new currency notes of Rs 500 and 2000 from November 10 onwards. These notes will have new design.
Source: Hindustan Times.
This is the all you need to know about new notes changes in India and all about how you can exchange your hard cash money you have.
This is a great move by our honorable PM to get all black money back in the country. Now Our duty is to support this decision by adjusting with it for few days and support those guys who really need money. Because ATM's are closed for two days and there are lots of guys who are on the trip or out of their hometown. One tip for those who are in trouble they can use Paytm money to give shopkeepers or other peoples.
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