By decision of Prime Minister Narendra Modi – from midnight on 9.11.2016 all banknotes in denominations of Rs 500 and Rs 1000 will be withdrawn from circulation. Citizens, residents of India and all holders of banknotes greater than or equal to 500 rupees will be able to deposit them in banks until 30 December 2016. People who do not manage to deposit them by that time will still have the opportunity to exchange them at the Central Bank of India until 31 March 2017.

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