Post by Dilip on Nov 9, 2016 20:34:08 GMT 5.5
500, 1000 rupee notes, no more in INDIA
Important News
Prime Minister Narendra Modi announced that 1000 and 500 rupees notes will cease to be legal tender from midnight 9-10 November 2016. The announcement was made via a special nationwide televised address on 8 November 2016.
Important facts about Rs 500 & Rs 1000 notes banned :
1. You can exchange them in banks & post offices between Nov 9 and Dec 30, 2016
2. ATMs will dispense only Rs 2000 a day, later to be increased to Rs 4000 per day
3. Those who miss the Dec 30 deadline, can exchange old Rs 500 and Rs 1000 notes through RBI on the basis of declaration
4. Till Nov 11 midnight, Hospitals will accept Rs 500 & Rs 1000 notes and on basis of prescription can buy medicines from drug stores on hospital shops
5. Govt buses ticket booking counter, airlines will accept them for booking tickets till Nov 11 midnight
6. Petrol & CNG outlets, crematoriums, international airports will also have leeway to accept Rs 500 & Rs 1000 notes till Nov 11
7. Non-cash transactions (cheques, demand draft, card payments) not to be affected
8. ATMs to be closed on Nov 9 & 10
