The New Updates Everyone Should Know About Demonestisation: After the announcement of demonestisation all the citizens of the country are busy in exchanging their old notes and depositing their money into accounts. All the ATMs and banks became so busy that there are big queues even on Saturdays and Sundays. There are a few developments connecting with demonetisation, which is very important and everyone should keep themselves updated with these changes.


The developments are as follows:

  • On Saturdays all the banks will serve only its respective customers by exchanging the old notes and it is not applicable for the customers who belong to other banks. All the senior citizens are excluded from this restriction and they are allowed to go to any banks and can exchange their old notes even though they are not the customers of those banks.
  • All the customers who have wedding in their families are allowed to withdraw 2,50,000 for the weddings.
  • The exchange limit for the customers has been reduced to two thousand rupees in order to ease some pressure on cash demand.
  • All the service places like petrol pumps, hospitals and pharmacies are allowed to accept the old Rs. 1000 and Rs. 500 till November 24th mid night.
  • As many customers are exchanging the invalid currency notes, all the banks started applying indelible ink mark on the right index finger of all the customers who are visiting the banks in some selected metro cities.
  • In order to help the farmers several measureswere also taken by the government. All the farmers are allowed to withdraw Rs. 25,000 on every week against kisan credit card or crop loan.
  • Traders who are in agricultural mandis will be permitted to withdraw fifty thousand in cash per every week to pay their sundry expenses like wages.

Everyone has to understand and accept the changes and developments since it takes time for everything to settle and becomes the normal process.

Venkatesh is the co-founder and planning head of Galaxy Reporter. He is a digital entrepreneur and loves reading and writing about current affairs, startups, business and many more. He lives in Hyderabad, Telangana and likes to do adventurous things in life.


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