Odisha Sun Times Bureau
Bhubaneswar, Nov 10:

New Rs 500 and Rs 2000 currency notes will be available in banks from today onwards. Customers can exchange the old and demonetized Rs 500 and Rs 1000 currency notes with the new Rs 500 and Rs 2000 notes in banks and post offices across the country.


As per norms, the old notes can be exchanged in banks and post offices up to a maximum of Rs 4,000 per person till November 24. Proof of identity and an exchange slip duly filled in will be required for availing the facility.

There will be no limit on the exchange from November 25 to December 30.

All the ATMs across the country will become operational from November 11 and customers can withdraw up to Rs 2,000 per card per day subjected to an aggregate limit of Rs 20,000 per week.

The ATM withdrawal limit will be hiked to Rs 4,000 per card per day after a few days.

Similarly, customers can withdraw a maximum of Rs 10,000 per day from their accounts through bank counters limited to Rs 20,000 per week. The limit will be raised in the coming days.

There is no ceiling on deposit of the old Rs 1,000 and Rs 500 notes in the customer’s account till December 30. However, one has to show the source of income if the amount to be deposited exceeds Rs 2.5 lakh.

Large number of people were spotted standing in long queues waiting for their turn to exchange/deposit the old notes at banks across Odisha.

Notably, in order to curb black money, the government on Tuesday demonetized Rs 500 and Rs 1,000 notes in the country.