Home Business Steps to follow after invalidation of Rs 500 and 1000 notes with some useful informations

Steps to follow after invalidation of Rs 500 and 1000 notes with some useful informations

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  • These notes can be exchanged at Reserve bank of India at their all of the 19 branches, any bank branches and post offices be it head post office or sub post office.
  • You can exchange only 4000 in cash. If this is insufficient you can use balance in bank accounts via credit/debit cards, internet banking, IMPS, mobile wallets etc.
  • Jan Dhan account holder can also avail the exchange facility subject to norms and caps applied.
  • For exchange upto 4000 you can access any of the bank’s branch, but for more you will have to approach to the same bank in which you are the account holder. Branch can be any but the bank should be the same. And for the cash above 4000 from other bank branch you have to provide your account details with a valid ID proof.
  • If you are not having any account then you have an option of getting it through your friend or relative’s account number but permission is required in writing from the account holder.
  • If you want to send your representative to the bank he should possess the valid id proof with an authority letter signed by you.
  • You can withdraw against cheque or withdrawn slip to a ceiling of 10,000 a day and 20,000 a week including withdrawn from the ATM up to 24th November 2016.
  • The limit of cash withdrawal will be raised to 4,000 from present ceiling of 2000 from 19th November 2016 onwards.
  • Proof of identity which will be permissible are- Aadhar card, Driving License, Voter ID, Passport, NAREGA card, PAN card, identity card issued by government or public sector units.
  • There will be no chip in Rs 2000 notes.
  • All banks will be opened this weekend on saturday and sunday.

For further details you can access the information at-https://www.rbi.org.in/

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