“The government has taken a measure aimed at the heart of the black cash economy. CII congratulates the prime minister and the government for this step.”Currency notes can be exchanged at banks and post offices from November 10 to December 30. “Keeping in mind the supply of new notes, in the first few days, there will be a limit of Rs 10,000 per day and Rs 20,000 per week,” Modi said. “This limit will be increased in the coming days.”From November 10 to 24, the limit for exchange will be Rs 4,000. “In the first few days, there will be a limit of Rs 2,000 per day per card,” Modi said.

Source: Economic Times November 08, 2016 20:08 UTC