Kochi (BWI) — Government’s recent move to curb black currency market through the withdrawal of 500 and 1000 rupee notes from the economy has left the common populace with several queries. How to get back the hard earned money was the repeated question from every nook and corner of the nation. Supporting UAE Exchange India, one of the pioneers of financial services has come up to share valuable information with the public.
Here are some of the important queries common man poses:
How can I exchange my 500 and 1000 rupee notes?
Individuals can deposit their old notes with a valid ID in nearest Banks or Post Office from 10th November to 30th December 2016. You can even exchange the currency till 31st March 2017 with the support of valid ID at RBI.
What is the limit of ATM withdrawal?
Withdrawals are restricted to Rs. 2500 per card per day.
Can I make a withdrawal with cheque?
Yes, you can make a withdrawal against cheque for Rs. 10,000 a day and Rs. 20,000 a week.
How to get new currency?
RBI has started issuing new currency. These currencies can be obtained from your nearby banks.
Can I get currency from any bank?
One can exchange or get currency from any other banks with the assistance of a valid ID proof.
How foreigners with these currencies make currency exchange?
Foreign tourist can purchase these currencies equivalent to Rs. 5000 at airport exchange counters provided with valid ID proof.
How can I make secure payments?
To tackle this financial crisis, individuals have the best option to make payments and transfer through online modes. Mobile cash wallet payments are the best possible means to carry out immediate shopping, utility payments and fund transfer.