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IN People ON 10 Nov, 2016
With a sudden announcement from the PM himself that came out on Nov 8, it was really difficult for the Indian citizens to come out of surprise and shock. No doubt the BJP government deserves an applause for this major decision taken but it was a moment of rush for everybody in the country.
8 PM is a time for people to return home from the offices, a majority of them being occupied. Giving a little percentage of chance to people to find a solution to the matter.
Keeping all the funny ways of making a paper cone or wind fan out of them aside, the fact is that many people resort to some illegal ways to get rid off their notes of 500 and 1,000 rupees. While these ways can get you in jail, why don't you just scroll down to know the legal ways provided by the government that can help you to a certain limit.
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The banks' window will be opened from November 10 to December 30, 2016.
Since the banks were closed on the very next day of the announcement which was Nov 9, for a relief, these will remain open on Saturday and Sunday i.e. on the dates November 12 and 13. Comprising no holiday for the second Saturday.
Initially, there will be a limit of Rs 10,000 per day and Rs 20,000 per week on withdrawal, the limit of which will soon be increased.
No need to worry if you are not able to deposit your 500 and 1,000 rupee notes until December 30, you will not become the poorest in the country.
You have the option to exchange notes till March 31, 2017, at the specified RBI offices but you have to furnish proper declaration for the same. So, kindly do not consider the date as an extension but as a second chance.
New notes of Rs 500 and Rs 2,000 will be available in the ATMs from November 11, as said by Ashok Lavasa the finance secretary. On which you can make a withdrawal of Rs 2,000 per day per card which is expected to raise to Rs 4,000 per day.
You can also exchange your/the banned notes at the Post office which too has a limit of Rs 4,000 till November 24. But you have to produce a valid ID proof.
You have the availability of getting your fuel tanks filled up to November 12 with your Rs 500 and Rs 1000 notes. Where the petrol stations are asked to keep a record of every transaction.
Since people might have emergency situations regarding their health that is why the hospitals and drug stores have no right to deny the acceptance of Rs 500 or Rs 1,000 note.
Still, it is a general suggestion and request that do not take undue advantage of these places since they too might face problems in returning you with the change money.
You can easily make non-cash payments through cheques, electronic fund drafts, demand drafts, credit and debit cards.
Arrangements have been made at the railways and airports so that the passengers do not get troubled. So, travel without any tension.
1. Governmental Milk Booths
2. Governmental Consumer Co-operative stores
3. Burial grounds and Crematoriums
Reminder: Take your PAN Card as well as Adhaar Card with you whenever or wherever you go to exchange notes.
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