Old Notes of Rs. 50o and 1000 that were scrapped last week in the sudden announcement of demonetization will now be accepted until 24th November. Notes will be accepted at government hospitals, petrol stations, and toll booths.
Moreover, Government has announced new Rs. 2000 notes will be available in ATM from today or definitely by tomorrow.
The government launched Rs. 500 note on Sunday, which is expected to ease the pressure on banks. It will also help to improve liquidity in the market.
The daily limit of withdrawal from the ATMs has been increased from 2000 to 2500 and exchange limit from the banks from Rs. 4000 to Rs. 4500. On the contrary, weekly withdrawal limit will be Rs. 24000.
Of two lakh ATMs across the country, only 60 percent are disbursing cash. Many of the machines have to be re-calibrated for the new Rs. 2,000 notes.
The Reserve Bank of India has urged people to not withdraw cash repeatedly and hoard it. The nation’s largest bank, the State Bank of India, has reported deposits worth Rs. 75,945 crore by Sunday evening.