Modi Govt and Reserve Bank Of India take a huge step towards black money and corruption in India.

500 and 1000 rupees notes are  discontinued and will not be accepted from midnight of 8 Nov, 2016.

Key Points :-

  • You can exchange notes between 10 Nov-30 Dec, 2016
  • You can use the 500 and 1000 notes on Govt Hospital, Medical Store, Air port, Bus Stop, Railway Booking, Govt milk booth till 11 Nov, 2016.
  • You can exchange your notes from banks and post office from 10 Nov, 2016
  • ATM will be closed  on 09 Nov and 10, 11 Nov on some places.
  • In starting you can only withdraw 2000 rupees value from ATM.
  • Only 500 and 1000 notes are discontinued, you can still use 100,50,20,100,5,2,1 currency value smoothly.
  • New 2000 notes will be issued with GPS chip to control over black money.
  • You can still use use atm card, digital wallet and cheque to do transactions during this period.