Watch Prime Minister Narendra Modi’s address to the Nation on Scraping Bank Notes of Rs 500 and Rs 1000
Bank Notes Rs 500 and 1000 Banned In India
- As announced by Prime Minster Narinder Modi on live telecast on DD News on 08.11.2106 ‘
- Bank Notes of Rs 500 and Rs 1000 are not valid legal tender w.e.f midnight of 08.11.2016
- Replace Bank Notes of Rs 500 and Rs 1000 from 10th November to 30th December 2016 ( i.e within 50 days from 09.11.2016) with any bank / Post Office
- 50 days to deposit Bank Notes of Rs 500 and Rs 1000
- Banks will remain Close on 09.11.2016
- However you can use cheques , debit cards, credit cards , demand draft as usual.
- Every week only Rs 20000 can be withdrawn from Bank ATMs.
- A Person can not withdraw more than Rs 2000 from Bank ATM’s in a single day.
- Every Day only Rs 4000 can be deposited into Bank ATM
RBI Conference on Banning Bank Notes of Rs 500 and Rs 1000
- To stop Counterfeit notes in circulation and to curb blank money it has been decided to ban Rs 1000 and Rs 500 Bank Notes
- Several Operational Guidelines and press note will be issued by Reserve Bank of India.
- RBI will be releasing new Rs 500 Bank notes and Rs 2000 Bank Note w.e.f 10.11.2016
- New Series of Bank note will be known as Mahatama Gandhi Bank Series Note.
- New Helpline Number of Control Room will be operational from 09.11.2016