The government of India on Tuesday surprised the whole nation to announce the ban on Rs. 500 and Rs 1000 notes. Prime Minister of India Narendra Modi had announced a shocking news and soon after his announcement all Rs 500 and Rs 1000 notes circulation were stopped, and people treated them like worst papers. The reason behind Narendra Modi’s daring move is to control the black money and terrorist activities across the border.
Soon after the PM’s announcement, people are so much worried and immediately went to nearest ATMs to return their old notes. However, Government on Wednesday Night announced the complete details about New Rs. 500 and RS. 2000 Notes and also revealed the necessary steps to deposit or exchange old Rs. 1000 and Rs. 500 notes.
You need one form to exchange of old Rs 500 and Rs 100 notes in the appropriate banks. Along with The PDF form or request slip, you must submit your Government Issued Identity Card, the name of your branch and bank. The important message is that there will be no change in any transactions like Cheque, DD, Payments via Debit or Credit Cards and Online Net Banking Payments, etc.
Process to Submit or Exchange your Old Notes
- First Deposit your Old Rs 1000 and 500 notes at your appropriate bank or post office from November 10 to December 30
- If you want to exchange the old notes from a bank or post office, November 24 is the last date, and the exchange limit is Rs. 4000.
- Take your Aadhar Card and Pan Card or any Government Issued ID Card when you go to exchange your old notes
- After December 30, all your amount will be deposited at Reserve Bank of India with a declaration
- Tourists will exchange their notes at individual counters available in Airports
Old Rs 500 and Rs 1000 note will be Valid Up to November 11 Midnight in Below mentioned areas
- Fuel Stations and Government Hospitals
- Railways, Airlines, Government Bus Tickets Booking counters
- Consumer Co-operative stores run by State or Central Government
- Milk booths certified by State Governments
- Crematoriums and burial grounds
Finance Secretary Ashok Lavasa has also tweeted an infographic explaining about where to exchange currency notes. Anyone can deposit or exchange your old money in the valid banks or post offices with a respected PDF form or request slip. You can exchange or submit your cash savings account can deposit unlimited amounts of money before December 30. After December 30, till March 31, RBI specified offices only would take the cash with a valid ID proof, PAN card, and declaration form.
There will be no restrictions on card payments, online transactions, DD and Cheque. However, there is a limit on daily and weekly withdrawals. From ATMs you can draw only Rs 2000 per day and banks will allow you to draw Rs 10,000 a day and Rs 20,000 a week.
We are providing you the Request Slip to Exchange your Rs. 500 and 1000 Notes. This Form should fill and submitted to exchange Rs.500 and Rs.1000.
Document Form To exchange of Rs 500 and Rs 1000 Notes
Click Here to get the detailed RBI PDF
This November 12th and 13th all banks will be working for customers and allows you for exchanging or depositing your money. Don’t Panick folks Government is making all the arrangements to avoid troubles to the common man.