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500 Rs, 1000 Rs notes are discontinued in India from 08-Nov-2016. Is it fake?  

Posts: 35
Eminent Member
Joined: 1 year ago

500 Rs, 1000 Rs notes are discontinued in India from 08-Nov-2016. Is it true or fake news?

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Posts: 25
Eminent Member
Joined: 1 year ago

Its a 100% real news. On November 8th 2016, Narendra Modi announced that all the 500 rupees and 1000 rupees notes will be discontinued in India.

Posts: 93
Joined: 6 years ago

Narendra Modi announced that from November 08th-2016 midnight, all the 500 and 1000 rupee notes will be discontinued in India to bring out the black money and this will bring down the black market.

Steps to exchange the banned Rs.500 and Rs.1000 currency in India

  1. Carry your PAN card and Aadhar card.
  2. Go to your nearest Bank or post office and deposit your old 500 and 1000 rupee notes.
  3. You will get the new 500 and 2000 rupee notes in exchange.

Points to be Noted

  1. Old notes must be deposited before 31st December 2016. Means post 31-Dec-2016, you cannot deposit or exchange your old notes.
  2. There is no limit in exchanging of currency in banks and post offices.
  3. On 09-November-2016, all the banks will be closed.
  4. From 10-November-2016, you can change your old notes in Banks and post offices.
  5. On 09-November-2016 and 10-November-2016, all the bank ATMs will be closed.
  6. Withdraw limit increased to Rs.24,000 per week in bank. ATM withdraw limit limit increased to Rs.2,500 per day.

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