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How to replace your old Rs. 500 and Rs. 1000 currency notes?

Samarth Srivastava

Samarth SrivastavaBy Samarth Srivastava

Published on 8 Nov 2016 5:30 PM GMT

How to replace your old Rs. 500 and Rs. 1000 currency notes?
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How to replace your old Rs. 500 and Rs. 1000 currency notes?
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Lucknow: To put a check on Black Money, Prime Minister Narendra Modi on Tuesday demonetized Rs 500 and Rs 1000 currency notes with effect from midnight today.

How can you replace Rs. 500 and Rs. 1000 currency notes?

  • Banks will be closed on Wednesday (November 9).
  • Withdrawal from banks and post offices has also been made limited to Rs. 10,000 a day and Rs. 20,000 a week. The amount is said to be increased in the coming days.
  • Showing ID proof at any bank, post office or sub post office, one can exchange Rs 500 and Rs 1000 currency notes but only up to Rs. 4,000.
  • ATMs will not be functional on November 9 and November 10 (in few places).
  • One can withdraw Rs. 2,000 a day from ATMs. The amount will be increased to Rs. 4000 in the coming days.

Following will take Rs 500 and Rs 1000 currency notes:

  • Government hospitals
  • Railway and airport ticket booking counters and government buses
  • Petrol pumps
  • Milk booths
  • State or Central government authorised consumer cooperative stores

Also read:

Rs 500, Rs 1000 notes deemed illegal from midnight: PM Modi

Samarth Srivastava

Samarth Srivastava

Employed as sub-editor at newstrack.com. A learner, who loves covering sports, entertainment and defence kind of stuff.

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