As government puts complete ban on over-the-counter exchange of Rs 1000 and Rs 500 notes, on Thursday, worry and choas among netizens have been piling up on what to do with old notes?
PM Narendra Modi in his surprise move on November 8, announced demonetisation of Rs 1000 and Rs 500 whose legal tender status have been withdrawn.
Today is the 17th day of demonetisation move and public grievance over demonetisation is not completely solved yet. Post demonitisation governemnt took slew of measures to tackle the cash rush and cash cruch.
In view to ease confusion and chaos , News Nation comes up with exclusive programme on government's demonetisation policies at 3pm. Call in to know answers to your queries: 0120- 71386
Here is the date line of major demonetisation events
Government withdrawal whose legal tender status of higher denomiation Rs 500 and Rs1000 currency notes.
Old notes worth Rs 4000 can be exchanged at banks. Withdrawal limit from banks fixed at Rs 20,000 for a week and a daily limit at Rs 10000.
Old notes to be accepted metro stations, ASI monuments, toll plazas and medicine shops, petrol pumps, crematorium.
Government announced that now- defunct currency notes of 500 and 1000 will be accepted for making payments towards fees, charges, taxes and penalties payable to the central and state governments including municipal and local bodies, and other utility charges like water and electricity.
Cash exchange limit over the counter increased to Rs 4500.
Cash withdrawal limit at ATMs increased to Rs 2500 per day in the recalibrated ATMs.The weekly limit for withdrawal from bank accounts increased to Rs 24,000, the daily limit is removed.
Government extends existing exemptions for acceptance of old Rs 500 and Rs 1000 notes up to 24 November, 2016 midnight.
Cash exchange limit over the counter reduced to Rs 2000.Families allowed to withdraw up to Rs 2,50,000 from their own bank accounts, in case of a wedding.
Agriculture traders allowed to withdraw Rs 50000.
Old notes cannot be exchanged at banks. Only foreigners allowed to exchange currency up to Rs 5000 per week.Old notes of Rs 1000 cannot be used.
Government allows use of Rs 500 to pay for fuel, mobile recharges, water and power bills. Government-run school and college fees can also be paid with old notes of Rs 500.