8,44,982 cr notes exchanged from Banks during Nov 10-27

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Mumbai, November 29
People have exchanged and deposited Rs 8,44,982 crore worth of scrapped Rs 500/1,000 notes at different banks till November 27 following demonetisation of the high value currency.
Of this, the exchange (of old Rs 500/1000 notes) amounted to Rs 33,948 crore and deposits amounted to Rs 8,11,033 crore. The banks also disbursed 2,16,617 ccrore over the counter and via ATMs between November 10 and November 27, Reserve Bank statment said. Consequent to the announcement of withdrawal of legal tender status of Rs 500 and Rs 1,000 banknotes from the midnight of November 8, 2016, RBI had made arrangements for exchange and/or deposit of such notes.
The facility was available at the counters of the Reserve Bank and commercial banks, Regional Rural banks and Urban Cooperative Banks.
An account holder is allowed to withdraw Rs 24,000 a week, including ATM withdrawals. The daily withdrawal limit for ATM has been set at Rs 2,500 per day.

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