Updates and Rules on demonetization in India keep changing.
The major demand of changing is because of Misuse of the exemptions under Demonetization. This is not a complete Demonetization in India. The small denominations of Notes up to Rs. 100 are in Use and have legal status. Therefore, we have to see Impact and Latest Updates on Demonetization Rules in India 2016.
After two Weeks of scrapping the 500 and 1000-rupee note in India, the conditions are still not good. There are long queues outside the ATM’s and Banks. Business Sector and Public is still not stabilizing.
This is going to be a Big Disadvantages of Demonetization.
With Consideration of the Problems of Common man, on 24th of November 2016 government had given the Latest updates on Demonetization Rules & Process in India.
- From 25th of November Exchange of old 500 and 1000 rupees, a note will be close. These notes can only deposited into Banks.
- Note of Rupees 1000 denomination can only deposit into banks and will not consider anywhere else.
- All the National Highway tolls will be free until second of December and from third to 15th of December old notes of 500 can also accept there. This is the latest update on demonetization is created to facilitate the public.
- From 24th of November, people can get cash from BigBazar too with their Credit or Debit Cards. Limit of Cash withdrawal is Rs.2000 only.
- Latest update on demonetization in India includes the additional Categories where the old Rs.500 note will accepted until 15th of December. These categories explained in detail on The Link above.
- Foreigners permitted to exchange the currency up to rupees 5000 subjects to enter in their Passport.
- Haryana Government had announced that all D category employees would get their Rs 10,000 salary in Cash.
Above were the latest updates on the demonetization rule or process in India. Modi Sarkar is doing all the things, which he feels to do good against corruption and Black Money. Still, the Cash relief is not in the Market because of lesser acceptance of Card and Digital Payments.
We will let you informed regularly the latest Updates on Demonetization rules In India.