Are 500 RS notes valid?

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.

Are 500 RS notes valid?

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.

What can we do with old 500 RS notes?

What should I do if I have currency in Rs 500 and Rs 1,000 notes? You can deposit these notes into your bank accounts or they can be exchanged at bank branches till 30th December 2016. Bank notes of the combined value of Rs 4,000 only can be exchanged. Similar facilities will also be made available at Post Offices.

Are old 500 notes still accepted?

If you have an old note of Rs 500 (the ones which were in circulation prior to demonetisation in November 2016) then you can earn Rs 10,000 without having to work hard. When a note (of whichever denomination) is issued by the Reserve Bank of India (RBI), it is printed keeping a fixed pattern in mind.

Is 500 rs note banned?

Over 99 per cent of Rs 500 and Rs 1,000 notes banned by Prime Minister Narendra Modi in the November 2016 demonetisation have returned to the banking system, the Reserve Bank of India said today after completing what it calls the “humungous task” of counting the banned cash.

Can we still exchange old 500 notes in 2021 Quora?

Yes, you can go to any bank to exchange notes. You need to submit a photo copy of your identity and then exchange up to 4K. You will paid in Rs 500, Rs 2k. If you are lucky, they can pay Rs 500 in Rs 100 denominations.

Can old currency still be exchanged?

Exchanging old notes You need not visit the branch of the bank where you have an account in. If you want to exchange up to Rs 4,000 in cash, you can simply go to any bank with a valid ID proof. This limit of Rs 4,000 for exchanging old notes will be reviewed after 15 days.

Are old notes still legal tender?

Exchanging old notes 30 September 2022 is the last day you can use our paper £20 and £50 notes. Many banks will accept withdrawn notes as deposits from customers. The Post Office may also accept withdrawn notes as a deposit into any bank account you can access at the Post Office.

What happened to old 500 and 1000 notes?

After demonetisation, old Rs 500 and Rs 1000 currency notes were deposited under the Reserve Bank of India (RBI)’s supervision. Instead, new notes of equal value were given to people and today new 500 and 2000 notes are in circulation, as well as new notes of 20, 100 and 50.

How many languages are written on 500 rupee note?

17 languages
As like the other Indian rupee banknotes, the ₹500 banknote has its amount written in 17 languages. On the obverse, the denomination is written in English and Hindi. On the reverse is a language panel which displays the denomination of the note in 15 of the 22 official languages of India.

Whose signature is found on 500 rupee note?

Dr Urjit R Patel
The new currency note of Rs 500 will also have the signature of Dr Urjit R Patel, the Governor of Reserve Bank of India.

How to identify 500 rupees fake note?

• The background of the area where the denomination 500 is printed will glow when held under ultra-violet light. • The colour of the numeral 500 appears green when the note is held flat but would change to blue when the note is held at an angle. The font size is reduced.

What to do with 500 and 1000 rupee notes?

The only way to exchange is through an NRI who was abroad during the period.

  • Since its just one note,keep it safe.
  • Its not going to be waste.
  • Every note/coin with drawn by the government increases in value.
  • In case of 500 rupees majority of them is returned to the government.
  • Hence the availability of 500 rupees in the market will be very very less.
  • Are new 500 rupee notes in circulation now?

    Withdrawn Indian rupee banknotes include the 500 and 1000 rupee bills that were cancelled in 2016. The cancelled ₹500 and ₹1000 notes are no longer exchangeable at any bank in India: they have since March 2017 effectively lost all monetary value.

    How much is a 500 note worth?

    The €500 note is worth in the region of £400, depending on exchange rates (around eight times the value of the Bank of England’s largest publicly circulated note), and had, according to SOCA, become the currency choice for criminal gangs to hide their profits.