More updates on Narendra Modi’s currency demonetization

Prime Minister, Narendra Modi has taken a hard step on currency note. The declaration on old 500 and 1000 notes band affected people. Many people had a heart attack on hearing this. But, Modi also have a solution for this. People cannot use these notes. But, they can easily exchange it in banks. You can even deposit old 500 and 1000 notes in banks. Modi said, ‘ There will be no difficulties on common people.’

Further extension on Rs 500 and Rs 1000 notes

Couple of days before people heard that the high value currency notes cannot be used. But, the use of such notes has been extended. Government said, these can be used in hospitals, petrol pumps, etc till 24thof November.

ATM withdrawal and new notes

People are still facing difficulty in ATM withdrawal. Banks are depositing money in ATM. But, the machine becomes dry in just an hour or half. It is due to lack of sufficient currency note supply. In most places, ATM are giving out wrong notes. For example, if you want to take out Rs 2000, you will get only 200. ATMs never used to dispense rs 50 or rs 10 notes. But, these days you can even see that. Government says, ATMs are not calibrated as per the new note dimension and thickness. Probably, this can be a reason behind such issues.

New rules in bank

If you have old 500 and 1000 notes to deposit, the rule in bank is slightly changed. Previously, you need only one deposit slip for both denomination deposits. But, from today you have to take two deposit slips to deposit 500 and 1000 notes. The new 2000 note is available in banks. You can get it in hand once you go for withdrawal.

Government has requested general public to cooperate with banks. Every single individual is facing the hardship due to currency demonetization. But, everything is taking place for a good cause. You can get your nation in height with lots of development after this crisis period. Kindly bear with us and prove yourself to be a proud citizen of the nation.

Originally published at on November 15, 2016.

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