The Indian Banks Association (IBA) has informed the general public that the bank customers of all bank branches can now exchange / deposit their old currency notes of Rs. 500 and Rs. 1000 from 10th November 2016 as per the guidelines of RBI.
The customers can deposit / exchange the old notes till 30th December 2016 at the bank branches. Following are guidelines for exchange / issue of of new notes and deposit of old notes:
1) Rs. 4000 per person can be exchanged at the counters in all branches.
2) Rs. 10000 per day or a maximum of Rs. 20000 per week can be withdrawn in cash.
3) There is no limit on transfer of money between bank accounts through electronic mode or cheque.
4) There is no limit for deposit of old notes to the bank account.
5) There is withdrawal limit from ATMs. You can withdraw Rs. 2000 per day upto 18th November and thereafter Rs. 4000 per day.
6) All the banks will work on Saturday (12th November) and Sunday (13th November) for all the transactions.
I have some 1000 Rs notes year of 2005 what can I do where its exchange please tell me sir