On 8 November 2016, the Government of India announced the demonetisation of all ₹500 and ₹1,000 banknotes of the Mahatma Gandhi Series. It also announced the issuance of new ₹500 and ₹2,000 banknotes in exchange for the demonetised banknotes.
Which currency note is not accepted in India?
Recently, banknotes in the denomination of ₹500 and ₹1000 issued under the Mahatma Gandhi Series have been withdrawn from circulation with effect from the midnight of November 08, 2016 and are, therefore, no more legal tender.
Are old 50 rupee notes valid?
The note was officially announced on 18 August 2017 and now on circulation. On 18 August 2017, the Reserve Bank of India introduced a new ₹50 banknote in the Mahatma Gandhi (New) Series. However, ₹50 banknotes of the previous series will continue to be legal tender.
Is RBI accepting old notes now?
All banks and ATMs will remain closed on 9th November. All Rs 500 and Rs 1,000 notes to be deposited into banks or post offices from 10th November to 30th December 2016. After 30th December 2016, Rs 500 and Rs 1,000 notes will be accepted till 31st March 2017 in several RBI branches after taking declaration from RBI.
How can I change my old 500 rupee note now in 2020?
The Indians who still have the old Rs 500 and Rs 1000 notes can get them deposited in their bank account or the post office saving accounts or exchange them for new currency at the offices of the Central Bank.
How do I exchange old notes in 2020 RBI?
Exchanging old notes
You need not visit the branch of the bank where you have an account in. If you want to exchange up to Rs 4,000 in cash, you can simply go to any bank with a valid ID proof. This limit of Rs 4,000 for exchanging old notes will be reviewed after 15 days.
How many notes can RBI print in a day?
RBI Limitations: The Indian Government
4 The Reserve Bank has the right to print currency up to 10,000 rupee notes. However, if the Reserve Bank wants to print anything higher, the government must amend the Reserve Bank of India Act.
What should I do with old notes?
At your bank
If you have a UK bank account, the simplest and quickest way to exchange your notes will normally be to deposit them with your bank. The Post Office Opens in a new window may also accept withdrawn notes as payment for goods and services, or as a deposit into any bank account you can access with them.
Can I sell old Indian currency?
Special series notes:
If you have currency notes of Rs 1, 2, 10, 100, 500, 200 and 2,000 with certain specified features, then you can sell them online and earn good money. These notes can fetch you up to Rs 5 lakh if they have the number 12345 or 123456 on them.
Are old 10 notes still accepted?
The old £10 note went out of circulation officially at 11.59pm on March 1, 2018. However, old notes can still be exchanged at the Bank now that this point has passed. Although the new tenners came in last year until the deadline the paper money continued to be legal tender so could be spent freely.
Can old money be changed at the bank?
The public can have the old bills exchanged at authorized financial institutions like universal and commercial banks, thrift banks, rural banks, and cooperative banks. The public may also exchange old banknotes with the BSP or any of its regional offices.
Can I exchange old notes now 2019 India?
Can I exchange old 500 notes now 2019? The government had on Thursday announced that the demonetised 500 and 1,000 rupee notes can no longer be exchanged at bank counters and any holdings will necessarily have to be deposited in bank accounts. The limit to exchange old notes was recently set at Rs 2,000 per person.
Do banks still take old notes?
Here’s how to make your old £1 coins and £5 and £10 Bank of England notes spendable again: Your bank may swap or deposit old paper notes and coins. Banks don’t legally have to accept old paper notes and coins once they’ve been withdrawn from circulation.