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Note Ban: Rs.500 and Rs.1000 note now accepted in RBI from 25 Nov



500 and 1000 denominations to be accepted in Reserve Bank of India branches 

Reserve Bank of India has declared that Rs.500 and Rs.1000 notes can be exchanged from RBI branches or counters as per current limits.

Exchange of Rs.500 and Rs.1000 denomination has been stopped at all the banks from Thursday 24th November midnight.

People can deposit old notes in the banks and withdraw from their accounts using ATM

From the ATM people can withdraw up to a limit of Rs.2500 per day per card while the current limit for the withdrawal per week is up to Rs.24,000 from the bank accounts.

Certain exemptions are also provided by the government which means that petrol pumps and Government hospitals will accept Rs.500 notes till 15th December.

Water and electricity bills can also be paid with old notes.

 Reserve Bank of India has doubled the limit of digital transactions using e-wallets like paytm to Rs.20,000.


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