Rs500 and Rs1000 not valid

Prime minister Narendra Modi declared that notes of Rs500 and Rs1000 will not be valid from midnight 8/11/2016. People can exchange or deposit their money in banks or in post office from 10th of November up to 31st March 2017. Bank will remain close on 9th of November and in some places on 10th November bank will remain close and ATM will not work. Citizens have 50 days so don’t panic. All the notes and coins like Re1, Rs2, Rs5, Rs10, Rs20, Rs50, Rs100 will be valid. Online transaction can be done.



Old notes of Rs500 and Rs1000 banned.






New notes will be introduced from 10th November.

Rs500

Rs2000

Till midnight of 11th November railway tickets bookings, government buses, airline tickets can be purchased by old notes. In government hospital and in petrol pumps these notes are valid but only up to 11th of November. Or in an any emergency situation it is valid. After 30thDecember these notes are not going to be accepted.
PM Modi also announces that new notes of Rs500 and Rs2000 will be introduced. The main reason behind this step is to free the country from the black money.
Some features of Rs2000 notes are

• Colour:  Magenta
• Size    :  66mm x 166mm 
• Micro letters of RBI
• There are seven bleed lines on left and right side
• Portrait of Mahatma Gandhi

Rs500 notes

• Colour:   Stone grey
• Size:       63mm x 150mm
• There are five bleed lines on left and right sides.
• Portrait of Mahatma Gandhi

Latest Information:
 On 24 November 2016, government had announced that at some places people can use notes of Rs500. Now Rs500 notes will be accepted till 15th December 2016. People can use their Rs500 old notes in the following places:
1.      Payment of school fees upto Rs 2000 per student in State/Central government or in local body schools.
2. Payment of college fees in State/Central government schools
3. Railway tickets
4. Petrol pumps
5. Government hospitals
6. Public transport
7. Airline tickets at air ports
8. Milk booth
9. Metro rail tickets
10. Water and Electricity bills
11. LPG gas cylinders
12. To pay court fees
13. Foreign citizens are permitted to exchange foreign currency (upto Rs5000 in a week)
14. Payment of prepaid sim(Rs500 recharge per sim)
15. Crematoria/burial grounds
16. Purchase from Consumer Cooperative Stores will be limited upto Rs. 5000 at a time
17. From 3 to 15 December 2016 toll payments at toll plazas can be made through the old notes of Rs500
18. Government ticket counters
19. At any ticket counters of archaeologist survey of India.




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