Rs 500 and Rs 1000 notes banned and discontinued: FAQ answered by the RBI


The incidence of fake Indian currency notes in higher denomination has increased. For ordinary persons, the fake notes look similar to genuine notes, even though no security feature has been copied. The fake notes are used for anti national and illegal activities. High denomination notes have been misused by terrorists and for hoarding black money. India remains a cash based economy hence the circulation of fake Indian currency notes continues to be a menace. In order to contain the rising incidence of fake notes and black money, the scheme to withdraw has been introduced.

What is this scheme?
The legal tender character of the notes in denominations of ₹ 500 and ₹ 1000 stands withdrawn. The withdrawn old high denomination (OHD) notes cannot be used for transacting business and/or as a store of value. The OHD notes can be exchanged for value at any of the 19 offices of the Reserve Bank of India or at any of the bank branches or at any head post office or sub-post office.

How much value will I get?
You will get the entire value for the volume of notes tendered at the bank branches/RBI offices.

Can I get all in cash?
No. You will get upto ₹4000 per person in cash irrespective of the size of tender and anything over and above that will be receivable by way of credit to your bank account.

Why can’t I get the entire amount in cash when I have surrendered everything in cash?
The scheme does not provide for it, given its objectives.

Rs 4,000 cash is insufficient for my needs. What do I do?
You can use the balance in your bank accounts to pay for other requirements by cheque or through electronic means of payment such as internet banking, mobile wallets, IMPS, credit/debit cards etc.

What if I don’t have a bank account?
You can always open a bank account by approaching a bank branch with necessary documents required for fulfilling the KYC requirements.
What if I have only a Jan Dhan Yojna account?

A JDY account holder can avail the exchange facility subject to the caps and other laid down limits in accordance with norms and procedures.

Where can I go to exchange the notes?

The exchange facility is available at all issue offices of the RBI and commercial banks/RRBS/UCBs/State Co-op banks or at any head post office or sub-post office.

Do I need to go to my bank branch only?

For exchange up to Rs 4000 in cash you may go to any bank branch with valid identity proof. For exchange over 4000, which will be credited to the bank account, you have to go to the branch where you have an account or to any branch of the same bank.

In case you want to go to a branch of any other bank where you are not maintaining an account, you will have to furnish valid identity proof and bank account details required for electronic fund transfer to your account.

I have no account but my relative/friend has an account, can I get my notes exchanged into that account?

Yes, you can do that if the relative/friend gives you permission in writing. While exchanging you should provide to the bank evidence of permission given by the account holder and your valid identity proof.

Should I go to the bank personally or can I send the notes through my representative?
Personal visit to the branch is preferable. In case it is not possible you may send your representative with written authorization. The representative should produce an authority letter and his/her valid identity proof while tendering the notes.

Can I withdraw from ATM?

It may take a while for the banks to recalibrate their ATMs. Once the ATMs are functional, you can withdraw from ATMs upto a maximum of ₹2,000/- per card per day upto 18th November, 2016. The limit will be raised to ₹4000/- per day per card from 19th November 2016 onwards.

Can I withdraw cash against cheque?

Yes, you can withdraw cash against withdrawal slip or cheque subject to a ceiling of ₹10,000/- in a day within an overall limit of ₹20,000/- in a week (including withdrawals from ATMs) for the first fortnight i.e. upto 24th November 2016.

Can I deposit withdrawn notes through ATMs, cash deposit machine or cash recycler?

Yes, demonetized notes can be deposited in cash deposit machines/cash recyclers.

Can I make use of electronic (NEFT/RTGS /IMPS/Internet Banking/Mobile banking) mode?

You can use NEFT/RTGS/IMPS/Internet Banking/Mobile Banking or any other electronic/non-cash mode of payment.

How much time do I have to exchange the notes?

The scheme closes on 30th December 2016. The demonetized banknotes can be exchanged at commercial bank branches, regional rural banks, urban cooperative banks, state cooperative banks and RBI till 30th December 2016.

For those who are unable to exchange their Old High Denomination Banknotes on or before December 30, 2016, an opportunity will be given to them to do so at specified offices of the RBI, along with necessary documentation as may be specified by the Reserve Bank of India.

I am right now not in India, what should I do?
If you have the demonetized banknotes in India, you may authorize in writing enabling another person in India to deposit the notes into your bank account. The person so authorized has to come to the bank branch with the demonetized banknotes, the authority letter given by you and a valid identity proof

I am an NRI and hold NRO account, can the exchange value be deposited in my account?
Yes, you can deposit the demonetized banknotes to your NRO account.

I am a foreign tourist, who has demonetized notes. What should I do?
You can purchase foreign exchange equivalent to ₹5000 using the demonetized notes at airport exchange counters within 72 hours after the notification, provided you present proof of purchasing the demonetized notes.

I have emergency needs (hospitalisation, travel, life saving medicines) that require cash, what should I do?
You can use the demonetized notes for payment at government hospitals, purchasing bus tickets at government bus stands for travel by state government buses, train tickets at railway stations, and air tickets at airports within 72 hours after the notification.

What is proof of identity?
Any of the following is valid: Aadhaar Card, Driving License, Voter ID Card, Pass Port, NREGA Card, PAN Card, Identity Card Issued by government departments or Public Sector Units to its Staff.

Where can I get more information on this scheme?
Further information is available on and GoI website ( or call the control room of RBI on Telephone Numbers 022-22602201 and 022-22602944


Chhath Puja

आस्था से कहीं ज्यादा भावना बन चुकी है , शायद इसलिए आस्था का महापर्व कहते हैं !! एक ही तालाब , नदी या पोखरा अलबत्ता कुछ लोग समुन्द्र के किनारे अपने परिवार के साथ जब पूजा अर्चना ,फटाके छोड़ते हैं , बड़ा ही विहंगम सा दृश्य होता है !! कहाँ कोई जात-पात देखता है ,कोई general ,obc ,sc ,st ,दिव्यांग या विधवा नहीं दिखता, सब लोग छठ-व्रती ही दिखते हैं और हम सहर्ष उनके चरण स्पर्श करके प्रसाद ले लेते हैं ,शायद इसलिए पुरे पूजा में कहीं कोई भेदभाव की बू नहीं आती !! छठ-व्रती जो 72 घंटे का निर्जला -व्रत (बिना जल पिए ) रखते हैं ,उनकी श्रद्धा भक्ति तो second to none होती है !! सबसे अच्छी बात ये की जिस किसी दोस्त ,परिचित या फिर खासमखास 😍को हम खोजना चाहते हैं , वो सब भी छठ घाट के किनारे ही मिल जाते हैं , और हमारा सवाल तो बस इतना ही होता है “कब आये मधुबनी, और कब तक रहोगे ??” , और exchange of प्रसाद के साथ अगले मित्र से मिलने निकल जाते हैं !! शाम की पूजा तो कैसे निकल जाती है पता भी नहीं चलता , और फिर लेजेंडरी Sharda Sinha के गाने सुन के सुबह तक का इंतज़ार करते हैं ,सुबह तो 3 बजे से ही लगता है की जैसे कोई ethnic day का फैशन शो चल रहा होता है ,और फिर उगते सूर्य को प्रणाम कर अगले वर्ष का बेसब्री से इंतज़ार करते हैं !! अस्तलगामी सूर्य और उगते हुए सूर्य (सूरुजदेव) को प्रणाम कर अगले एक साल के लिए हम इंतज़ार में लग जाते हैं !! सबसे अच्छी बात घाटों पे जो सफाई हम करते हैं ,अगर हम सब वैसा हमेशा ही रखे तो शायद हमें कभी स्वछ भारत अभियान जैसे नारो की जरुरत न हो !! घर से दूर होना तो अखरता ही है , मगर शायद दूर रह के कुछ काम कर लेना भी छठ मैय्या के कृपा से ही हो पाया है !!
हर एक क्षण का आनंद लीजिये , क्योंकि यही तो इस महापर्व की विशेषता है !!😊
छठ पूजा की हार्दिक बधाई !!🙏🙏 #Chhatpuja #Bihari

हिंदी दिवस

आज हिंदी दिवस है ,वाह बहुत ही अद्भुत क्षण हैं ,इस कालजयी भाषा के वृतांत का , आज अपनी ही लिखी एक कविता आपके सामने प्रस्तुत करता हूँ , व्याकरण की त्रुटियां हो सकती हैं उम्मीद हैं आप उन्हें अनदेखा कर मर्म को समझ सकेंगे !! संयोग से आज हमारे घर की ज्येषठ पुत्री और मेरी भतीजी जाह्नवी का जन्मदिवस 🎂भी हैं !! ऐसे में सुखद अनुभूति होना स्वाभाविक है !!
खैर आजकल भाषाई छेत्रवाद की वजह से पानी के ऊपर जो संग्राम मचा हैं , शायद उसमे भी हिंदी का प्रचार प्रसार एक विकल्प हो सकता हैं !! विषय पे वापस लौटते है, ये कृति पहले की हैं, अच्छी लगे तो आपकी विशेष टिपण्णी चाहूंगा 👇👇👇
क्रंदन उस भाषा की जो कभी बनके चन्दन महकती थी
आज हाशिये पे आके किसी कोने में सिसकती है
यह सोच कोई तो तारणहार हो,जो एक नए वाद में ले चल पड़े
अपितु हम निर्विवाद ही विदेशी और मातृभाषा के अन्तर्द्वन्द में उलझे पड़े
विडम्बना ऐसी राष्ट्रभाषा के सम्मान की ,मुखौटे पहन बैठे हैं झंडाबरदार
करुणा,वीरता ,हास्य रास का इसमें है अद्भुत श्रृंगार

लाडली रही है वो पन्त ,दिनकर और निराला जैसे अशंख्य शशक्त हस्ताक्षरों की
स्वतंत्रता संग्राम में जिसने क्रांति की लपटे जलाई ,
आज वही अपनी स्वतंत्र भूमि पर अस्तित्व की लड़ाइयां लड़ रही !!
हर राज्य की अपनी भाषा हो गई जो कुछ सभ्य लोग बचे उनकी अंग्रेजी हो गई,
मझधार में वह व्यथित रही, किन्तु किंचित भी आभा ना गई,
कुंठित है तेज आज हमारी स्नेह की बिंदी की
विश्वास है की स्वर्णिम लड़िया पिरोयी जाएँगी फिर से कालजयी भाषा हिंदी की !!


Urjit Patel – 24th RBI Governer🇮🇳🇮🇳

RBI Deputy Governor Urjit Patel will take charge as the 24th Governor of the Reserve Bank of India when incumbent Raghuram Rajan demits office on 4th september.His Experience in various capacities will only boost Economy provided he given full control to work .Few Facts about his life and journey till date are aligned here.👇

Bio –

Urjit Patel, who has an M.Phil degree from Oxford University, was an advisor with Boston Consulting Group before his appointment as the deputy governor at RBI in 2013.

He was also with the International Monetary Fund (IMF) between 1990 and 1995 .He was on deputation to the Reserve Bank from the IMF between 1996 and 1997 after which he was a consultant (1998-2001) to the Department of Economic Affairs in the finance ministry.He had also been with Reliance.

Patel’s appointment assumes significance given the controversial departure of Rajan, who was publicly targeted by senior BJP leader Subramanian Swamy, and chose not to seek a second term in office.The government’s image too took a knock, with industry captains and institutional investors criticizing the handling of the issue.Former RBI Deputy Governors Rakesh Mohan, Subir Gokarn, Vice Chairman of the NITI Aayog Arvind Panagariya and SBI Chairperson Arundhati Bhattacharya were said to be the other contenders to the post.

And while the economy is far more stable than it was when Rajan had taken charge, Patel has a tough act to follow, given the high standards sets by his outgoing predecessor.

Focus needs to be on inflation, NPAs Patel’s handling of inflation, interest rates bad loan clean-up at banks, and the upcoming NRI deposit redemptions will be closely watched by the market.He led the committee that, in 2014, suggested that RBI adopt a formal inflation targetting method and formulate a monetary policy committee (MPC) to take interest rate decisions to achieve its inflation targets.Recently, the government agreed to both clauses, adopting a 4 percentlong term inflation target.

But even more closely watched will be his ability to maintain the RBI’s autonomy and extract tough promises from the government on fiscal discipline, something that Rajan excelled at.There is talk that one of the reasons the government was not too keen on retaining Rajan was that it would need a governor sympathetic to its vision of a monetary policy in the run-up to the 2019 general elections. Rajan has often been criticized for keeping interest rates high and giving priority to low inflation over growth.

Hopes of interest rate cuts have risen in the days following Rajan’s announcement to quit. However, the renewed spike in consumer and wholesale inflation has somewhat tempered the expectations.

Over the many years of work and research in India, Urjit Patel has impressed many, including P V Narasimha Rao, Dr Manmohan Singh, P Chidambaram, Narendra Modi, Arun Jaitley, and Raghuram Rajan, among others.
In 2013, when he was offerred to become the deputy governor of RBI, his recommendation letter was written by none other than the then Prime Minister Dr Manmohan Singh.Serving as the deputy governor at the RBI, Patel was seen as Raghuram Rajan’s right hand man. Patel headed the committee that introduced the landmark changes in the monetary policy formulation of the central bank, reports First Post. These reforms have helped India battle inflation, and are considered to be among the most important reforms since 1991.

Hope he will figure out the Common people issues their economic condition,growth and Indian economics stability.

Jai Hind 🇮🇳

Narsingh Yadav – A culprit or Innocent

One of the finest Medal prospects was sabotaged when our 27 year UP born wrestler Narshingh Yadav,who is currently serving as DSP in Maharastra Police when the charges of drugs consumptions were upheld by WADA and CAS. Commonwealth and Asian Games Gold medalist, Bronze medalist in World wrestling in 74 Kg was to take on Frech wrestler when the decison cames, imposing 4 years ban on the Indian Wrestler .
There had been many stories and contoversies on his olympic journey .Compatriot Sushil Kumar ,2 times olympics medalist asked for trial between him and Narsingh and challenged in Delhi high court but court rejected Sushil’s challenge and paved way for the latter. Next controversy surfaced when he was found guilty of intake of drugs.Narsingh stated that it is someone else who has either mixed drugs in food or in drinks to dent his image and his olympic chances. NADA and WFI , both Indian sports bodies given thumbs up to Narsingh , but the same was rejected and charges of drugs consumptions were upheld by WADA and CAS.
While the image of Country has already been dented ,its time for govt to ask for deeply investigation against all the suspectes may be its SAI official,Olympian ,Coach,Player,Govt. Official,sports officials touring in Rio .
Either sports officials were not aware about the olympics rule or simply they had neglected .Govt. Should also support Narsingh in helping him in providing legal supports provided he’s not held guily in CBI investigation.Narsingh should not be lone survivor if he isn’t guilty . Charges should be framed against all who are found guilty. A tough actions will only ensure such things will never happen in any sports, regardless of the position of the Individual.
Jai Hind

Rio Olympics 2016

The 2016 Summer Olympics officially known as the Games of the XXXI Olympiad and commonly known as Rio 2016, is a major international multi-sport event in the tradition of the Olympic Games as governed by the International Olympic Committee, being held in Rio de Janeiro, Brazil. Opening rounds in certain events began on 3 August 2016 — two days before the opening ceremony—and the Games is formally running from 5 August to 21 August 2016.

More than 11,000 athletes from 206 National Olympic Committees (NOCs), including first time entrants Kosovo and South Sudan, are taking part.[1][2] With 306 sets of medals, the games features 28 Olympic sports, including rugby sevens and golf, which were added by the International Olympic Committee in 2009. These sporting events are taking place at 33 venues in the host city as well as at five venues in the cities of Sao Paulo (Brazil’s largest city), Belo Horizonte, Salvador, Brasília (Brazil’s capital), and Manaus.

These are the first Summer Olympic Games under the IOC presidency of Thomas Bach.The host city of Rio de Janeiro was announced at the 121st IOC Session held in Copenhagen, Denmark, on 2 October 2009. Rio became the first South American city to host the Summer Olympics.

India is scheduled to compete at the 2016 Summer Olympics in Rio de Janeiro, Brazil, from 5 to 21 August 2016. Indian athletes have appeared in every edition of the Summer Olympics since 1920, although they had its official debut at the 1900 Summer Olympics in Paris.

The Indian Olympic Association is going to send the nation’s largest ever delegation (a total of 124 athletes; 41 larger than their previous record of 83 athletes in 2012) in Summer Olympic history.

This list of 124 athletes includes Inderjeet Singh and Dharambir Singh who have been suspended from travelling to Rio after having failed both of the administered doping tests.


Sources -Wikipedia


Cricket :- Zimbabwe defeated New Zealand in first ODI .

Recently Minnows have outplayed their strong oppositions. First team which has shown the temperament is Bangladesh ,now one has to say Bangladesh is the tough team to beat in thier home conditions.Following the same pursuit now Zimbabwe seems to enjoy thier glory in cricket back.
New Zealand who batted first and made 303 in 50 overs match .Zimbabwe never looked in trouble and made 304 in 49 overs to win the game.
Zimababwe has a wonderful past which has produced so many brilliant cricketing talent like Dukan Fletcher,Andy Flower,Grant Flower,Neil Jhonshon,Campbwell,Heat streak and not to forget the iconic hero of 1999 world cup Henry Olonga. But as situation got worsen in Zimbabwe it was tough for cricketer to continue for thier nations.So once looking a Underdog team was completely got devastated.
The reason being no team visited them.Low payment of crickters led early exit from this Gentlemen Game .Likes of Taylor was the latest to go out.
But after playing Worldcup and some undisclosed agreement between PCB and ZCB now seems as they have got some taste of high level cricket again they have got momentum of success and rythm is back.
India recently somehow managed to win first oneday game in HARARE and later on in T-20 game Zimababwe won 2nd t-20 to level the series by 1-1.It was a much satisfactory win and pshycological win for home team.
Now keeping the same momentum they defeated the runnner-up from 2015 world cup. For the rest of matches KIWI’s will not take host lightly.