{"id":2390,"date":"2016-11-09T01:11:32","date_gmt":"2016-11-08T19:41:32","guid":{"rendered":"http:\/\/35.185.130.28\/?p=2390"},"modified":"2023-06-15T17:24:57","modified_gmt":"2023-06-15T11:54:57","slug":"10-things-you-can-do-with-your-rs-500-rs-1000-notes","status":"publish","type":"post","link":"https:\/\/www.paisawapas.com\/blog\/10-things-you-can-do-with-your-rs-500-rs-1000-notes\/","title":{"rendered":"10 things you can do with your Rs 500, Rs 1000 notes"},"content":{"rendered":"

In a move to curb down on black money, Modi government pulls out Rs 500 and Rs 1000 currency notes from circulation, effective midnight of November 08, 2016.<\/p>\n

\"new-rs-500-note-front\"<\/a><\/p>\n

In his 40-minute address first in Hindi & later in English, Prime Minister Narendra Modi announced that Rs 500 and Rs 1,000 notes \u201cwill not be legal tender from midnight tonight\u201d<\/span><\/strong> and will be \u201cjust worthless pieces of paper\u201d.<\/span><\/strong><\/p>

\"\"<\/a><\/div>\n

However, he said that all notes in the\u00a0lower denominations of Rs 100, Rs 50, Rs 20, Rs 10, Rs 5, Rs 2, Re 1<\/strong> and all coins will continue to be valid. Needless to say, this news comes as a huge surprise to the entire world, when people were expecting news about US Elections, Modi took it all of us by surprise.<\/p>\n

While social media is abuzz with black money & the future of the notes that are already in circulation, here\u00a0are the 10 things\u00a0 you and I can do with the Rs 500 and Rs 1,000 notes<\/strong> in hand.<\/p>\n

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  1. \n

    Deposit old notes of Rs 500 and 1000 in banks or post offices between November 10 and December 30, 2016.<\/h3>\n<\/li>\n
  2. \n

    Those who are unable to, can exchange notes till March 31, 2017 at specified RBI offices after furnishing proper declaration.<\/h3>\n<\/li>\n
  3. \n

    Exchange of old notes for cash upto a limit of Rs 4000 possible at any bank or post office by producing valid ID proof.<\/h3>\n<\/li>\n
  4. \n

    Rs 500, Rs 1000 notes will be accepted at hospitals, drug stores till November 12.<\/h3>\n<\/li>\n
  5. \n

    The notes can also be used at designated fuelling stations till November 12.<\/h3>\n<\/li>\n
  6. \n

    Petrol pumps and retail outlets will have to keep every single entry of cash transaction with Rs 500 and 1000 notes till November 11.<\/h3>\n<\/li>\n
  7. \n

    Arrangements have been made at airports so that travellers entering\/leaving the country are not inconvenienced.<\/h3>\n<\/li>\n
  8. \n

    ATM withdrawal limit of Rs 2000 per day per card initially and this will be later raised to Rs 4000 per day<\/h3>\n<\/li>\n
  9. \n

    There will be an initial limit of Rs 10,000 per day and Rs 20,000 per week on withdrawal of money. This limit is to be increased soon.<\/h3>\n<\/li>\n
  10. \n

    ATMs will not function on November 09 and at some places on November 10 as well.<\/h3>\n<\/li>\n
  11. \n

    No restriction on non-cash payments including transactions by cheques, demand drafts, electronic fund transfers, debit and credit cards.<\/h3>\n<\/li>\n<\/ol>\n

    Also Read Rs 500, Rs 1,000 notes banned, 25 things to remember: Nobody explains it like RBI<\/strong><\/a><\/p><\/blockquote>\n

    \"new-rs-500-note-back\"<\/a> \"new-rs-500-note-front\"<\/a> \"new-rs-2000-note-front\"<\/a>\"new-rs-2000-note-back\"<\/a><\/p>\n

    Speaking at the special nationwide TV address, Modi took a firm stand on corruption by scrapping all Rs 500 and Rs 1,000 notes with immediate effect. Stating from February 2017, the RBI will start issuing Rs 2,000 notes as well.<\/p>\n

    Also Read what Nation is saying about PM Modi’s Decision on Rs 500 And Rs 1000 Notes Being Discontinued<\/strong><\/a><\/p><\/blockquote>\n