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How to Change Rs. 500 and Rs. 1000 Notes In Banks

By on November 9, 2016

How to Change Rs 500 and Rs 1000 Notes In Banks. It has been a chaos all across the country since Prime Minister Narendra Modi announced the ban on Rs. 500 and Rs. 1000 notes yesterday night.  It is definitely a brilliant move from the Government of India to ban the notes as it will lead to suspension of black money in the country and also will halt the exchange of counterfeit notes.

How to Change Rs 500 and Rs 1000 Notes In Banks, Modi in a statement said that ‘From midnight, these notes will only be ‘worth the paper they are printed on.’ RBI has sanctioned new 500 and 2,000 rupee notes which will soon come into circulation.

If you are wondering how to change 500 and 1000 Rs notes then just read on to find how.

Steps to change Rs 500 and Rs 1000 Notes in Banks and Post Offices

  • If you have Rs. 500 and Rs. 1000 notes with you, you can change them at banks or post offices.
  • All you need to have to get your notes changed without issues is an ID proof.
  • You need to carry your ID proof like Aadhaar Card or PAN Card to the bank or post officer wherever you want to change your notes into hundreds or some other notes.
  • The last date to exchange the notes is 24th Per day you can only exchange up to Rs. 4000.
  • The exchange will initiate from 10th November and end on 30th
  • After December 30th, these can be deposited at RBI with a declaration.
  • The notes exchanging facility is also provided for tourists at airports.

As the announcement on the ban of Rs 500 and Rs 1000 notes came out suddenly, the notes will be accepted till November 11th at Petrol pumps, government hospitals, railway stations, airlines, government bus ticket booking counters, co-operative stores that run under state or central governments, milk booths that run under state government, crematoriums etc.

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