Currency notes of Rs 500 and Rs 1000 denominations will not be legal beginning November 92. Those unable to deposit Rs 1000, Rs 500 notes by December 30 for some reason, can change them till March 31, 2017 by furnishing ID proof5. People can deposit notes of Rs 1000 and Rs 500 in their banks from November 10 till December 30, 20166. Currency notes of Rs 1000 and Rs 500 will be just paper with no value7. Rs 20,000 weekly cap on exchange of Rs 500 & Rs 1,000 notes

Source: Economic Times November 08, 2016 15:30 UTC