New Delhi: The time limit of exchanging old Rs. 500 and Rs. 1000 currency notes will be ending today. But, previously Prime Minister Narendra Modi said in a statement when he announced the demonetization decision, that, “from 10th November till 24th November the limit for such exchange (of old notes) will be four thousand rupees. From 25th November till 30th December, the limit will be increased.”
The Reserve Bank of India, restated the Prime Minister’s assurance, after three days of the announcement of demonetization, and said, “the facility for exchanging the withdrawn denominations of Rs 500 and Rs 1000 is available for nearly 50 days. The Reserve Bank appeals to members of public to be patient and urges them to exchange their old notes at their convenience, any time before December 30, 2016.”
As Government went back his words on Thursday and said “…there will be no over the counter exchange of old Rs 500 and Rs 1,000 notes after midnight of 24.11.2016”.
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