Whole nation came into panic mode after listening to the announcement by PM Modi. The old notes of Rs. 500 and Rs. 1000 are merely a paper with no value. This decision resulted into long queues outside ATMs and Banks. Modi asked people not to panic and assured that their old money would be replaced with the new ones.
With this announcement, banks started preparing to exchange people’s money, and government issued a notification to exchange demonetized Rs. 1000 and Rs. 500 notes to the currency of Rs. 100 and new notes of Rs. 2000 and Rs. 500. Bellow is the photos of new currency of denomination of Rs. 2000 and Rs. 500.
Demonetization of currency resulted in panic and chaos. Banks stayed open on Saturday and Sunday to help people. The government also issued that the Hospitals, Petrol Pumps, and few other institutions need to accept the old currency to minimize the inconvenience. Even though it’s an inconvenience for 50 days, Modi urged to stay calm and follow the procedure as well as assured that he will get rid of Indian black economy.
Form To Exchange Old Money
Banks require you to fill up the slip to exchange your old money with the new ones. It contains a field to enter the bank name; the government issued identity card and the number of the card, details about the currency you want to exchange and the signature with date and place. It is very easy to fill, print the image bellow and go with the filled form to ease up the process.
Infographic To Your Help
Finance secretary Ashok Lavasa tweeted very helpful infographics which explain where to exchange the old currency notes and how to exchange them. Everyone can exchange the old currency with their bank accounts and post office accounts. The deadline to exchange old notes is until 30th December. In case you missed the deadline you can still exchange the old currency with PAN card from RBI specified offices till 31st March.
Have any questions? Let us know your experiences with exchanging old currencies with new ones. Post your photos with the new notes in comment section 😉 Don’t forget to share this Form with you on Facebook and WhatsApp.