Exchange of old Rs 500 and Rs 1000 currency notes, stopped at banks from Thursday midnight, will be allowed at the Reserve Bank of India (RBI) counters, a statement released on Friday by the central bank said. “The Reserve Bank of India advises members of public that exchange of banknotes in Rs 500 and Rs 1,000 denominations, whose legal tender status has been withdrawn, will continue to be available at the counters of the Reserve Bank up to the current limits per person as hitherto,” the statement said. The government had announced on Thursday that the demonetised 500 and 1,000 rupee notes can no longer be exchanged at bank counters and any holdings will necessarily have to be deposited in bank accounts. No changes were announced regarding the deposit of these high value notes in banks accounts, deadline for which remains December 30. Read| Over the counter exchange ends: Here’s where you can use old Rs 500 notes

Source: Hindustan Times November 25, 2016 05:02 UTC