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Reserve Bank of India Will Continue Exchange of old Rs 500, Rs 1000 notes

Reserve Bank of India Will Continue Exchange of old Rs 500, Rs 1000 notes

New Delhi: A statement released on Friday by the central bank said,exchange of old Rs 500 and Rs 1000 currency notes, stopped at banks from November 24 -midnight, will be allowed at the Reserve Bank of India (RBI) counters.

The Centre decided on Thursday not to extend the facility given a decline in exchange transactions.

However no changes were announced regarding the deposit of these high value notes in banks accounts.Deadline for which remains December 30. People will need to provide their PAN card details if the total deposit amounts to over Rs 2.5 lakh after December 30.

New Delhi: A statement released on Friday by the central bank said,exchange of old Rs 500 and Rs 1000 currency notes, stopped at banks from November 24 -midnight, will be allowed at the Reserve Bank of India (RBI) counters. The Centre decided on Thursday not to extend the facility given a decline in exchange transactions. However no changes were announced regarding the deposit of these high value notes in banks accounts.Deadline for which remains December 30. People will need to provide their PAN card details if the total deposit amounts to over Rs 2.5 lakh after December 30.

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