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India On Media |
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| Politics
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| Over The Counter Swap Of Notes Ends |
| Over The Counter Swap Of Notes Ends Now: 10 Points On Cash Crunch
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| INDIA
, 24-November-2016
9:33:22 AM |
| Prime Minister Narendra Modi met the cabinet tonight amid a ferocious attack by the opposition over his abrupt ban of 500-and 1,000-rupee notes
2So far, people could do a one-time swap of upto 2,000 rupees.
3The government has decided to do away with the trade-in to shift focus to encouraging people who currently do not have accounts to open them and deposit the abolished notes.
4Old notes can be deposited till the end of the year.
5The current limit on withdrawal of upto Rs. 24,000 per week per bank account remains unchanged.
6ATMs can be used to draw upto Rs. 2,500 a day per card. Less than half the country's two-lakh ATMs have been reconfigured to handle the new currency which is larger than the old bills in size.
7Finance Minister Arun Jaitley conferenced via video with the chiefs of major banks this evening to review their preparedness.
8Current exemptions have been extended till December 15. That means petroleum pumps and state-run hospitals will continue to accept the old notes till then.
9Water and electricity bills can also be paid with the old currency till December 15.
10The RBI has doubled the limit on digital transactions through e-wallets like Paytm to Rs. 20,000 per month.
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