Are old 500 notes still accepted?
The Prime Minister has announced the following moves as part of the demonetisation of old currency notes: Existing Rs 500 and Rs 1,000 currency notes will not be valid from 8th November midnight. All banks and ATMs will remain closed on 9th November.
What is the value of old 500 rupees note?
Who knows you also can get either Rs 5,000 or Rs 10,000 in exchange of that note. If the serial number of old Rs 500 note has been printed twice, then you can get Rs 5,000. If the old Rs 500 note is big, that is, extra paper has been left on it, then you can get Rs 10,000.
When was 500 rs note introduced in India?
The Rs. 500 note was introduced in October 1987 with the portrait of Mahatma Gandhi. The water mark continued to be the Lion Capital, Ashoka Pillar.
How can I know the year of Indian currency note?
How to Identify Pre-2005 Notes? The currency notes printed after 2005 have the year of printing on the reverse of the notes in the lower center portion. While, notes printed before 2005 do not have the year of printing on the reverse side and hence can be easily identified.
What can I do with old 500 rupee notes?
The old currency notes of Rs 500 and Rs 1000 can now only be exchanged at the offices of the Central banks.
Is 500 rs note banned?
Starting from midnight 8 November 2016 all ₹500 and ₹1000 banknotes of the Mahatma Gandhi Series ceased to be a form of legal tender after a televised address to India by Prime Minister Narendra Modi.
Who signed 500 note in India?
The ₹500 banknote of the Mahatma Gandhi Series is 167 × 73 mm Orange-yellow coloured, with the obverse side featuring a portrait of Mahatma Gandhi with a signature of the governor of the Reserve Bank of India.
How can you tell a fake 500 note?
Here’s how to check the authenticity of Rs 500 notes:
- You will be to see 500 written in special places if you place the Rs 500 note in front of a light.
- Keeping the note at an angle of 45 degrees in front of the eye will also let you see 500 written in this special place.
What is the size of Rs 500 banknote?
66mm x 150mm
The ₹500 banknote of the Mahatma Gandhi New Series is 66mm x 150mm Stone Grey coloured, with the obverse side featuring a portrait of Mahatma Gandhi as well as the Ashoka Pillar Emblem, with a signature of the governor of Reserve Bank of India.
Can I still exchange old Indian 500 notes in 2021?
What does 1 crore weigh?
Weight of one bundle(amounting 1 lacs) = 90 gms. Weight of 100 bundles(amounting 1 crore)= 9000gms or 9 kgs.
What is the procedure for exchange of old Rs 500 notes?
For any exchange of more than ten pieces of old Rs. 500 or Rs. 1,000 notes after that date would require identity proof and address to be shared with the bank if you are a non-customer of that bank. These exchange counters will become operational from April 1, 2014.
How many times can you exchange a 500 rupee note?
Any exchange of more than ten pieces of old Rs. 500 or Rs. 1,000 notes after that date would require an identity proof and address to be shared with the bank if you are a non-customer of that bank. So far, in India, there has been no official declaration regarding the lifespan of a currency note.
Why did RBI withdraw all notes issued before 2005?
The Reserve Bank of India (RBI) has announced its plans to withdraw all currency notes issued before 2005. Financial experts believe that the move is largely aimed at removing fake or counterfeit currency embedded into the financial system as well help uncover the big black market currency in the country.
What are the different denominations of notes in India?
Currently the Reserve Bank of India prints currency notes in the denomination of Rs. 5, Rs. 10, Rs. 20, Rs. 50, Rs. 100, Rs. 500 and Rs. 1,000. All the notes printed before the year 2005 do not have the year of printing marked on them.