I have 500 and 1000 rupees notes with me what to do now ?? this is the question most of the people must be facing in India. As Govt. Of India has announced on 8 Nov 2016 that the currency of Rs.500 & 1000 will be legally valid after mid night. The Govt. has announced that the decision will help in removing all the black money which most of the people hiding with them also it will give a solid break to the people who are producing and spreading duplicate currency in the whole indian Market.
What can I do now with 500 and 1000 Rupees Notes?
If you have 500 and 1000 rupees note in considerable amount there are two option available with you…
Option 1 : Get it exchanged from Bank or Post office if you have 500 and 1000 Rupees Notes
This can be done till 30 Dec 2016, you just have to go to nearest Bank or Post office and get it exchanged from there. But there are some limitations that you can not exchange more that Rs.4000 per day. So if you have around Rs40,000, you will have to get it exchanged in 10 days i.e. Rs.4000 every day. But this will not be that simple a every one would like to get the old currency exchanged so there will be huge rush in bank.
Option 2 : Just go to bank and deposit the cash in your bank account if you have 500 and 1000 Rupees Notes
This option will be very helpful for the people who just want get rid of with old currency they have with them. They just need to go to Bank and deposit the money in bank on their account. Here in this option there is no limit to deposit one can deposit any amount in his/her account.
In both the option it is expected that you carry your photo identity along with if you are depositing of exchanging cash less than Rs.50,000. If you want to deposit of exchange amount more than Rs.50,000 then PAN card is must. Without these document not a single Bank or Post office will accept your old currency.