Rs 500 In Addition To Rs One M Notes Banned Inwards India

Prime Minister Narendra Modi, today announced that Rs. 500 and Rs. yard notes volition non hold upward used from today’s midnight onwards. The Rs. 500 as well as Rs. yard notes must hold upward deposited at post service offices as well as banks yesteryear the halt of December, the PM said, adding the deed was essential to deal “the illness of dark money.”

Here are highlights of the Bank on Rs. 500 as well as Rs. yard Notes

    • From today’s midnight, the Rs 500 as well as Rs yard volition hold upward illegal.
    • All banks volition rest shut for world hap Nov 9.
    • Deposit currently used notes of Rs 500 as well as Rs yard inward post service role accounts or banks yesteryear Dec 30, 2016. There volition hold upward no bound on the deposit amounts.
    • Exchange one-time notes of Rs 500 as well as Rs yard at whatever bank, caput post service role or sub post service role yesteryear showing ID proof. The bound for this is Rs 4000 upto Nov 24.
    • There‚Äôll hold upward a bound on withdrawal of Rs 10,000 per twenty-four hr menses as well as Rs 20,000 per week. This bound volition hold upward increased inward the coming days.
    • No restrictions of whatever form on non-cash payments yesteryear cheques, demand drafts, debit or credit cards as well as electronic fund transfers.
    • Rs 500 as well as Rs yard volition cease to hold upward legal tender from the midnight of Nov 8, 2016.
    • On Nov nine as well as inward roughly places on Nov 10, 2016, ATMs volition non work.
    • For 72 hours, these places as well as institutions volition locomote along to orbit got Rs 500 as well as Rs yard notes for payment :
      • Government hospitals volition locomote along to orbit got one-time Rs 500, Rs yard notes for payment.
      • Railway ticket booking counters, ticket counters of authorities buses as well as airline ticket counters at airports volition orbit got one-time notes for buy of tickets.
      • Petrol, diesel fuel as well as gas stations authorised yesteryear world sector fossil oil companies
      • Consumer co-operative stores authorised yesteryear set down or cardinal government.
      • Milk booths authorised yesteryear set down governments
      • Crematoria as well as burial grounds
    • The authorities is going to resultant novel Rs. 500 as well as Rs. yard notes soon.
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