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of <h1>RBI Limits Old Rs. 500 and Rs. 1000 Note Exchange to Rs. 2000 Once Per Person Starting Nov 18, 2016.</h1> The Reserve Bank of India announced that starting November 18, 2016, individuals could exchange old Rs. 500 and Rs. 1000 banknotes for a maximum of Rs. 2000 in cash at banks. This exchange facility is limited to once per person. This decision follows a previous circular issued on November 8, 2016, regarding the demonetization of these banknotes. The directive applies to public sector, private sector, foreign, regional rural, urban co-operative, and state co-operative banks.
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