₹ 500 and ₹ 1000 notes: All you need to know!

GOI issued various guidelines about ₹500 and ₹100 notes yesterday evening, various rumors are spread out. Don't panic! Here you have all details you want to know:

1. You can deposit all ₹500 and ₹100 notes:

Yes, you are free to deposit any number of notes from 10th Nov to 30 Dec in your bank account.

2. You can exchange your these notes:

Yes, you can exchange these notes from any bank or post-office maximum up to 4000 on producing the One valid ID proof and your bank account detail.

3. You can withdraw cash:

Yes, you can withdraw cash upto 2000 from ATM, upto 4000 from bank daily in cash till 24th Nov 2016. Yeah you can withdraw upto 10000 via cheque.

4. ATM will open from 11th Nov 2016. 

5. You can do online transaction via NEFT, Bnak Transfer, IMPS, ATM, DEBIT Card, Mobile Banking App etc. There is no limit on that.

6. Govt will increase cash withdraw limit after 24 Nov.

7. You can even exchange all your remaining notes from 1st jan 2017 to 31st March 2017 from RBI center by providing proper income  declaration and identity proof.

This step is remarkable and master stroke to restrict black money, corruption etc but it can also have following great effect on our society :