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LATEST NEWS UPDATES | Rs 500 and Rs 1000 notes scrapped! Don't panic, here is your full guide on what to do at banks and ATMs

Rs 500 and Rs 1000 notes scrapped! Don't panic, here is your full guide on what to do at banks and ATMs

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published Published on Nov 9, 2016   modified Modified on Nov 9, 2016
-The Financial Express

In one, quick, out-of-the-blue stroke, the Modi government has rendered your existing Rs 500 and Rs 1000 currency notes worthless!

In one, quick, out-of-the-blue stroke, the Modi government has rendered your existing Rs 500 and Rs 1000 currency notes worthless! And, that must have surely left you wondering what you will do with your stash of money in denominations of Rs 500 and Rs 1000. While there will be some inconvenience as the transition to the new notes happens, the great news is that there is NO NEED TO PANIC, provided, all your money is accounted for. Even Prime Minister Narendra Modi sought to reassure when he said in his address to the nation, “Your money will remain yours. You need have no worry on this point.”

There is a wide window available for you to exchange your older notes at the bank. Also, till November 11 midnight, there are a lot places where you can use your stock of Rs 500 and Rs 1000 notes. The government also announced that new Rs 500 and Rs 2000 currency notes will go into circulation starting November 10. Below is your full-check list of information on the government’s move – from how and where to exchange notes, to limits on withdrawal from ATMs and features of the new notes.

Please click here to read more.

The Financial Express, 9 November, 2016, http://www.financialexpress.com/personal-finance/rs-500-rs-1000-notes-scrapped-what-to-do-highlights-checklist-guide-atms-banks-currency-exchange-black-money/4


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