Bank Notes Rs 500 and 1000 Banned in India w.e.f 09.11.2016

By | November 8, 2016
(Last Updated On: November 8, 2016)

Bank Notes Rs 500 and 1000 Banned In India

  • As announced by Prime Minster Narinder Modi on live telecast on DD News on 08.11.2106 ‘
  • Bank Notes of Rs 500 and Rs 1000 are not valid legal tender w.e.f midnight of 08.11.2016
  • Replace Bank Notes of Rs 500 and Rs 1000 from 10th November to 30th December  2016 ( i.e within 50 days from 09.11.2016) with any bank / Post Office
  • 50 days to deposit Bank Notes of Rs 500 and Rs 1000
  • Banks will remain Close on 09.11.2016
  • However you can use cheques , debit cards, credit cards , demand draft as usual.
  • Every week only Rs 20000 can be withdrawn from Bank ATMs.
  • A Person can not withdraw more than Rs 2000 from Bank ATM’s in a single day.

Watch Prime Minister Narendra Modi’s address to the Nation on Scraping Bank Notes of Rs 500 and Rs 1000

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