https://www.taxtmi.com/news?id=16801 The Central Government declared Rs. 500 and Rs. 1000 notes to cease being legal tender from 9 November 2016 and set out procedures: banks and treasuries must report holdings and remit specified notes to currency chests or RBI; public may exchange specified notes at RBI Issue Offices and bank branches up to 30 December 2016 subject to documentation and limits; deposits to bank accounts may be credited without limit except where KYC is incomplete (cap Rs. 50,000); cash withdrawal and ATM limits, temporary bank closures, recall of notes from machines, and daily reporting by banks to the Reserve Bank were mandated. en-us Wed, 09 Nov 2016 00:23:52 +0530 Wed, 11 Feb 2026 15:56:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=16801 The Central Government declared Rs. 500 and Rs. 1000 notes to cease being legal tender from 9 November 2016 and set out procedures: banks and treasuries must report holdings and remit specified notes to currency chests or RBI; public may exchange specified notes at RBI Issue Offices and bank branches up to 30 December 2016 subject to documentation and limits; deposits to bank accounts may be credited without limit except where KYC is incomplete (cap Rs. 50,000); cash withdrawal and ATM limits, temporary bank closures, recall of notes from machines, and daily reporting by banks to the Reserve Bank were mandated. News - Wed, 09 Nov 2016 00:23:52 +0530 https://www.taxtmi.com/news?id=16801