There is No more exchange of old notes from today i.e,,the exchange of 500/- and 1000/- notes for new currency has stopped in all the banks and post offices from today expect Reserve Bank of India.The union minister Nitin Gadkari said that 500 notes will be accepted as toll charges at national highways till December 15th in this year.( Nava Telangana exclusive coverage)
Old 500/- and 1000/- are allowed to pay the government fees in schools and colleges and as well as prepaid mobile top-up recharges. The people can only draw with the limit up to 2000/- per person to change the old currency and they can swipe only one time.From Friday morning they can only deposit the old currency in there accounts and they can with draw New currency through the ATM’S or cheques at the banks. From the ATM’S people can with draw only 2500 /-per card and per day.The current with draw limit of ATM’S per week for one card is 24000/- for person.you can pay water and electricity bills with old currency’s till the end of this year.For the regular use there will be no exchange of old notes.
The Reserve Bank Of India has doubled the online or digital transactions through e-wallets like Paytm up to 20000/- per month.Due to the Public problems and uses it has extended up to Dec 15th.That means govt hospitals,petrol pumps are allowed to continue with old notes.The Finance Ministry announced these changes in the demonetisation policy late on Thursday evening, following a high-level meeting chaired by Finance Minister Arun Jaitley, based on representations received from several quarters.