500 and 1000 Rupee currency notes discontinued in India

PM Narendra Modi announced discontiuation of Rs. 500 & Rs. 1000 notes from 9-Nov-2016 midnight. New Currency notes of Rs. 500 & Rs. 2000 will be available from 11-Nov-2016. All existing currency notes of Rs. 500 & Rs. 1000 cease to be legal tender.

This is historic step in economic times of India to fight corruption, black money, terrorism & fake counterfeit currency.

What you can do with old Rs. 500 & Rs. 1000 notes ?

• Deposit old currency notes of Rs. 500 or Rs. 1000 in bank or post office accounts from 10-Nov-2016 till 30-Dec-2016. There is no limit on depositing. 
• You can withdraw Rs. 10000 per day & Rs. 20,000 per week. This limit will be increased in coming days.
• Exchange old currency notes of Rs. 500 or Rs. 1000 at any bank head post office or sub-post office by showing ID proof like Voters Card, Adhaar Card or Passport. The limit for this is Rs. 4000 upto 24th November.
• There is no restriction on any non-cash payments which can be cheques, demand drafts, debit or credit cards and electronic fund transfer. 
• on 9th November and in some places 10th November ATMs will not work. In the initial days, there will be limit of Rs. 2000 per day per card. This will be raised to Rs. 4000 later.
• In case you could not deposit your old currency notes by 30-Dec-2016, you can still do this with RBI by giving the declaration till 31-March-2017.

Friendly measures to minimise the inconvenience

• Government hospitals wil continue to accept old Rs. 500 & Rs. 1000 currency notes for payments.
• Railway ticket booking counters counters of govt. buses and airline ticket counters at airport will accept old currency notesfor purchase of the tickets.
• Petrol, Diesel & Gas stations authorised by public sector oil companies
• Consumer co-operative stores authorised by State or Central Govt.
• Milk Booths authorised by State Govt.
• Crematorium and Burial/Cementry grounds.

Scanned copy of new specimen Currency notes of Rs. 500 & Rs. 2000.

New Rs. 500 and Rs. 2000 currency notes will available through banks & ATM from 11-Nov-2016.

There will not be any Rs. 5000 note in India.

• आज से ५०० और १००० रुपये के नोट बंध 
• नए ५०० और २००० रुपये के नोट ११ नवम्बर से बैंक में उपलब्ध होंगे