Exemption on old series of Rs 500, Rs 1000 notes for certain categories extended till November 24

Zee Media Bureau

New Delhi: Economic affairs secretary Shaktikanta Das on Monday said that government has extended the date of accepting old series of Rs 500 and Rs1000 for certain categories.

Currently government has given exemption to certain category of transactions where old series of 500 & 1000 notes can be accepted.

The limit for such transactions is being extended from 14th November midnight to 24th November midnight.

Das said this after appearing from a meeting held at Prime Minister Narendra Modi's residence  with senior ministers past midnight to review demonetisation and its impact.

Earlier in the evening, after a review by Finance ministry, the limit of old and now defunct Rs 500 and Rs 1000 rupee notes that can be exchanged for freshly minted Rs 2000 and new Rs 500 notes was increased from Rs 4000 to Rs 4500 per day.

Cash withdrawal limit at ATMs was hiked to Rs 2,500 from Rs 2,000 a day.

The weekly limit of Rs 20,000 for withdrawal from bank counters has been increased to Rs 24,000. The maximum limit of Rs 10,000 per day on such withdrawals has been removed, the ministry said in a statement.