In a surprise announcement, Narendra Modi Government has made its big move against black money by making the present Rs.500 and Rs.1,000 currency notes illegal from Nov.09 midnight.
With this movement the illegal currency notes worth nothing. And coming to us here is the ways to protect our legal currency notes.
- Deposit your old Rs 500 and Rs 1,000 notes at your nearest authorized banks or post offices between November 10 to December 30. Withdraw limit should be Rs 10,000 per day Rs 20,000 per week.
- As replacement for the scrapped currency notes, new Rs 500 and Rs 2,000 notes will be issued from 10 November. Any exchange after 25 November will require ID proof.
- Fuel stations, hospitals, will accept the Rs 500 and Rs 1,000 notes for next 72 hours.
- Travel bookings(Train,Bus,Air) also accepts the Rs 500 and Rs 1,000 notes for next 72 hours.
- There will be no change in any other form of currency exchange, be it cheques, DDs, and credit and debit cards.
- All banks will remain closed on November 9 for public work. And ATM's will not work on 9th and 10th November.
- If one misses exchanging the notes before 30 December, they can visit Reserve Bank of India till 31 March to submit the currency notes after filling a declaration form.
- It won't affects on any electronic mode transactions.
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