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Thursday, November 10, 2016

What to do with your Rs. 500, and Rs. 1000 notes

What to do with that #Rs. 500 and #Rs.1000 note

Just came back from long struggling process of exchanging the old notes of Rs. 500 and Rs. 1000 rom #AXIS Bank. I will just give a small download based on my experience to help you to be a bit prepared for it.

What do you get (My note is for SAVINGS ACCOUNT HOLDERS)
1. You can exchange upto Rs. 4,000 on the counter
2. You can withdraw upto Rs. 10,000 on cheque
3. You can deposit amount below 50,000 without any hassle

The notes you will be getting
4. The currency you will be getting in denomination of #Rs. 2000

5. Also, Rs. 100, Rs. 50, and Rs. 10 will be available 
(No notes of 500, 1000 in circulation)
Today, ATMs aren’t functioning
6. If you are unable to visit bank, you can send your representative with authorisation letter and his/her valid if prof

Be prepared for
1. Very long queues in the banks
2. Carry a water bottle and some munchies to give you company
3. Carry your ID Card along with photocopy, mention that the of proof is for exchanging old notes, duely sign with data to avoid misusing your id proof
4. Carry a pen and note book for convenience

Relax –
1. You have 50 days in hand

2. After the initial hitch, the processes will get better with ATMs functioning and review on deposits and withdrawals 
3. It will be accepted in Government Hospitals, Airport for atleast next 36 hours.
4. If you don't have unaccounted money, you don't need to worry  

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