New Delhi, Nov 25: The exchange of old currency across the counter has been stopped. The decision was taken last night and immediately announced. However exchange of notes at the Reserve Bank of India would continue.
Here are some points that would be helpful in the aftermath of the decision.
The Reserve Bank of India advises members of public that exchange of bank notes in ₹ 500 and ₹ 1000 denominations, whose legal tender status has been withdrawn, will continue to be available at the counters of the Reserve Bank up to the current limits per person as hitherto.
From today customers can deposit the old notes in their accounts and withdraw new currency from the ATM or bank cheques.
Old notes can be deposited till the end of the year.
The limit on withdrawal of up to Rs. 24,000 per week per bank account remains unchanged.
Limit on card withdrawal is at Rs 2,500 per day
Limit on digital transactions through e-wallets like Paytm to Rs. 20,000 per month.
Water and electricity bills can also be paid with the old currency till December 15.