500/1000 Notes ban in India – Ban on 500/1000 Notes – Deposit 500-1000 Notes Before 30 Dec 2016
500/1000 Notes Ban in Country
Yes you read it right. Indian PM Narendra Modi has announced 500/1000 Notes Ban in country. After below given period govt. will impose complete 500/1000 Notes Ban in country. But you don’t need to bothers about this 500/1000 Notes Ban. Govt will sufficient time for all the peoples to exchange their 500/1000 Notes with smaller notes. You can read below given steps to save your money from getting useless by this 500/1000 Notes Ban. You should read below given steps and get your 500/1000 Notes replaced.
Why 500/1000 Notes Ban in India?
PM mode has declared this 500/1000 Notes Ban in country on 8th November. They have to decide to Ban 500/1000 Notes to stop corruption. They are going to replace old notes of 500 with news notes. They are going to replace 1000 notes with 2000 notes. As per govt, all people have to submit their 500/1000 Notes into banks before fixed time. After that people will know real reason of this 500/1000 Notes Ban. Anybody having black money can’t bring it to banks. And if this money is not deposited in bank before fixed time, this 500/1000 Notes ban will make it useless.
When/Where to Deposit 500/1000 Notes
Anybody need not to panic for this 500/1000 Notes ban. Govt. will provide you sufficient time for replacing your old 500/1000 Notes with new one. You can bring this 500/1000 Notes to bank or can deposit via Cash Deposit Machine or in Post Office. From there, you can withdraw smaller notes of 100/50/20/10 Rupees. In next year, RBI will provide new notes of 500 Rupees. And you may check new 2000 Notes in below Photo. It will replace 1000 Notes.
Last Date to Deposit 500/1000 Notes in Bank
Peoples can deposit 500/1000 Notes before 30 December 2016. Bank will start accepting 500/1000 Notes from 10th November 2016. This 500/1000 Notes Ban is applied from 9th November. There is withdraw time for some time as decided by govt. But soon you will withdraw /deposit any amount in the bank or similar place. Candidates may check exact last date to deposit 500/1000 Notes in below section.
First Date to Deposit 500/1000 Rupee Notes: 10 November 2016
Last Date to Deposit 500/1000 Rupee Notes: 30 December 2016
Method to Replace 500/1000 Notes
- Get all your cash money of 500/1000 notes.
- Go to Post Office/bank/Cash Deposit Machine.
- Submit this money to your Bank account.
- From there you can withdraw this money into smaller amounts at any time.
- Bank will accept all notes before complete implementation of 500/1000 Ban in India.
500/1000 Rupee Notes Ban by PM
We have given method in above section to save you from loss by 500/1000 Notes ban. You have to keep this 500/1000 Notes Ban date in your mind. Govt. is very serious about corruption. That is the reason PM Modi has decide to ban 500/1000 rupee Notes in country. You should submit all your 500/100- Rupee notes into bank as soon as possible. If you have any question on 500/1000 Rupee Note Ban, ask in the comment box.