Demonetisation: You can exchange old notes only at RBI counter till Dec 31

The Prime Minister Narendra Modi-led Indian government stopped exchange of old Rs 500 and Rs 1000 notes in bank counters and has only allowed the exchange to happen at the counter of the Reserve Bank of India (RBI).

The government extended the deadline of exemptions till December 15, which means petrol pumps, state-run hospitals will continue to accept the old notes till then. You can also pay your water and electricity bills till December 15 with old banknotes.

Although the exchange has stopped at the bank counters, you can only deposit old banknotes till Dec 31. The current limit of withdrawal of upto Rs. 24,000 per week per bank account remains unchanged.

You can withdraw upto Rs. 2,500 a day per card from the ATMs.

The RBI has doubled the limit on digital transactions through e-wallets like Paytm to Rs. 20,000 per month.