On 8 November 2016, the Government of India announced the demonetisation of all ₹500 and ₹1,000 banknotes of the Mahatma Gandhi Series. It also announced the issuance of new ₹500 and ₹2,000 banknotes in exchange for the demonetised banknotes.
How do I exchange old 500 and 1000 notes now?
All Rs 500 and Rs 1,000 notes to be deposited into banks or post offices from 10th November to 30th December 2016. After 30th December 2016, Rs 500 and Rs 1,000 notes will be accepted till 31st March 2017 in several RBI branches after taking declaration from RBI.
Can I change old 500 notes now?
Right now, old 500 rupee notes have been categorized as ‘rare Indian currency‘. If you do possess an old 500 rupee note, then you should first immediately check whether its serial number has been printed twice. If not, then you can earn around Rs 5,000 from this note.
What happened to the old notes after demonetisation?
The RBI issued new ₹2,000 and ₹500 currency notes after the 8 November announcement by Prime Minister Narendra Modi, in which Rs500 and Rs1,000 banknotes were stripped of their status as legal tender. After the demonetisation announcement, ₹500 and ₹1,000 currency notes were withdrawn from circulation by RBI.
How can I exchange old 500 and 1000 notes in RBI?
The Indians who still have the old Rs 500 and Rs 1000 notes can get them deposited in their bank account or the post office saving accounts or exchange them for new currency at the offices of the Central Bank.
Do banks take old notes?
At your bank
If you have a UK bank account, the simplest and quickest way to exchange your notes will normally be to deposit them with your bank. The Post Office Opens in a new window may also accept withdrawn notes as payment for goods and services, or as a deposit into any bank account you can access with them.
Do banks still accept old notes?
Exchanging old banknotes
Many banks accept withdrawn notes as deposits from customers. The Post Office will also accept withdrawn notes as a deposit into any bank account you can access at the Post Office. And you can always exchange withdrawn notes with us.
How do I exchange a damaged 500 note?
These can also be exchanged at the counters of any public sector bank branch, any currency chest branch of a private sector bank or any Issue Office of the RBI without filling any form.
Are old notes worth anything?
While rare serial numbers often generate interest, banknotes will only ever be worth their face value to us.
How can I sell my old coins?
Step 1: Visit the official website Olx.com which allows the buyers and sellers to trade directly. Step 2: Register yourself as a seller on the website. Step 3: Click and upload a photo of the coin on the website. Step 4: Buyers who are interested will contact you.
Can we still use old 100 rupee note?
The Reserve Bank of India (RBI) has clarified that the old Rs 5, Rs 10, Rs 100 currency notes are not being withdrawn and will remain in circulation. … Post demonetisation, the Rs 1000 and Rs 500 currency notes ceased to be legal tender but the old notes of Rs 5, Rs 10, Rs 100 denominations continued as legal tender.
How do I exchange old notes in 2020 RBI?
Exchanging old notes
You need not visit the branch of the bank where you have an account in. If you want to exchange up to Rs 4,000 in cash, you can simply go to any bank with a valid ID proof. This limit of Rs 4,000 for exchanging old notes will be reviewed after 15 days.
What does RBI do with old currency?
This box is kept at the Enquiry counter at each Issue Office of the Reserve Bank. The admissible exchange value of the mutilated notes will be remitted by means of a bank draft or a pay order. Mutilated notes can also be sent to any of the RBI offices by registered/insured post.
Can I use old 10 pound notes?
The old £10 note went out of circulation officially at 11.59pm on March 1, 2018. However, old notes can still be exchanged at the Bank now that this point has passed. Although the new tenners came in last year until the deadline the paper money continued to be legal tender so could be spent freely.
How do I sell old coins and notes?
If you have some rare coins, all you have to do is to visit the CoinBazzar website and create an account by furnishing your details like name, email and full address. Now You are set to sell your coin on the website. Put out your coin and the price you expect and the buyers interested in it will contact you.
How do I get new Bank notes?
The RBI Offices, where Issue Department is functioning, offer the facility to members of the public to exchange their notes including soiled and mutilated notes and coins including uncurrent or worn out coins. The Bank is committed to provide exchange facility free of cost at its counters during business hours.