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FAQ on Rs. 500 and Rs. 1000 notes banned – What to do?

Rs 500 and Rs 1000 notes banned: Your questions answered by the RBI

Rs 500 and Rs 1000 notes banned: Your questions answered by the RBI

 Why this scheme?

The incidence of fake Indian currency notes in higher denomination has increased. For ordinary persons, the fake notes look similar to genuine notes, even though no security feature has been copied. The fake notes are used for anti-national and illegal activities. High denomination notes have been misused by terrorists and for hoarding black money. India remains a cash based economy hence the circulation of Fake Indian Currency Notes continues to be a menace. In order to contain the rising incidence of fake notes and black money, the scheme to withdraw has been introduced.

What is this scheme?

The legal tender character of the notes in denominations of Rs 500 and Rs1000 stands withdrawn. In consequence thereof withdrawn old high denomination (OHD) notes cannot be used for transacting business and/or store of value for future usage. The OHD notes can be exchanged for value at any of the 19 offices of the Reserve Bank of India or at any of the bank branches or at any Head Post Office or Sub-Post Office.

How much value will I get?

You will get value for the entire volume of notes tendered at the bank branches / RBI offices.

Can I get all in cash?

No. You will get upto Rs 4000 per person in cash irrespective of the size of tender and anything over and above that will be receivable by way of credit to bank account.

Why I cannot get the entire amount in cash when I have surrendered everything in cash?

The Scheme of withdrawal of old high denomination(OHD) notes does not provide for it, given its objectives.

Rs 4000 cash is insufficient for my need. What to do?

You can use balances in bank accounts to pay for other requirements by cheque or through electronic means of payments such as Internet banking, mobile wallets, IMPS, credit/debit cards etc.

What if I don’t have any bank account?

You can always open a bank account by approaching a bank branch with necessary documents required for fulfilling the KYC requirements.

What if, if I have only JDY account?

A JDY account holder can avail the exchange facility subject to the caps and other laid down limits in accord with norms and procedures.

Where can I go to exchange the notes?

The exchange facility is available at all Issue Offices of RBI and branches of commercial banks/RRBS/UCBs/State Co-op banks or at any Head Post Office or Sub-Post Office.

Need I go to my bank branch only?

For exchange upto 4000 in cash you may go to any bank branch with valid identity proof.

For exchange over 4000, which will be accorded through credit to Bank account only, you may go to the branch where you have an account or to any other branch of the same bank.

In case you want to go to a branch of any other bank where you are not maintaining an account, you will have to furnish valid identity proof and bank account details required for electronic fund transfer to your account.

Can I go to any branch of my bank?

Yes you can go to any branch of your bank.

Can I go to any branch of any other bank?

Yes, you can go to any branch of any other bank. In that case you have to furnish valid identity proof for exchange in cash; both valid identity proof and bank account details will be required for electronic fund transfer in case the amount to be exchanged exceeds Rs 4000.

I have no account but my relative / friend has an account, can I get my notes exchanged into that account?

Yes, you can do that if the account holder relative/friend etc gives you permission in writing. While exchanging, you should provide to the bank, evidence of permission given by the account holder and your valid identity proof.

Should I go to bank personally or can I send the notes through my representative?

Personal visit to the branch is preferable. In case it is not possible for you to visit the branch you may send your representative with an express mandate i.e. a written authorisation. The representative should produce authority letter and his / her valid identity proof while tendering the notes.

Can I withdraw from ATM?

It may take a while for the banks to recalibrate their ATMs. Once the ATMs are functional, you can withdraw from ATMs upto a maximum of Rs.2,000/- per card per day upto 18th November, 2016. The limit will be raised to Rs.4000/- per day per card from 19th November 2016 onwards.

Can I withdraw cash against cheque?

Yes, you can withdraw cash against withdrawal slip or cheque subject to ceiling of Rs10,000/- in a day within an overall limit of Rs.20,000/- in a week (including withdrawals from ATMs) for the first fortnight i.e. upto 24th November 2016.

Can I deposit withdrawn notes through ATMs, Cash Deposit Machine or cash Recycler?

Yes, OHD notes can be deposited in Cash Deposits machines / Cash Recyclers.

Can I make use of electronic (NEFT/RTGS /IMPS/ Internet Banking / Mobile banking etc.) mode?

You can use NEFT/RTGS/IMPS/Internet Banking/Mobile Banking or any other electronic/ non-cash mode of payment.

How much time do I have to exchange the notes?

The scheme closes on 30th December 2016. The OHD banknotes can be exchanged at branches of commercial banks, Regional Rural Banks, Urban Cooperative banks, State Cooperative Banks and RBI till 30th December 2016.

For those who are unable to exchange their Old High Denomination Banknotes on or before December 30, 2016, an opportunity will be given to them to do so at specified offices of the RBI, along with necessary documentation as may be specified by the Reserve Bank of India.

I am right now not in India, what should I do?

If you have OHD banknotes in India, you may authorize in writing enabling another person in India to deposit the notes into your bank account. The person so authorized has to come to the bank branch with the OHD banknotes, the authority letter given by you and a valid identity proof (Valid Identity proof is any of the following: Aadhaar Card, Driving License, Voter ID Card, Pass Port, NREGA Card, PAN Card, Identity Card Issued by Government Department, Public Sector Unit to its Staff)

I am an NRI and hold NRO account, can the exchange value be deposited in my account?

Yes, you can deposit the OHD banknotes to your NRO account.

I am a foreign tourist, I have these notes. What should I do?

You can purchase foreign exchange equivalent to Rs 5000 using these OHD notes at airport exchange counters within 72 hours after the notification, provided you present proof of purchasing the OHD notes.

I have emergency needs of cash (hospitalization, travel, life saving medicines) then what I should do?

You can use the OHD notes for paying for your hospitalization charges at government hospitals, for purchasing bus tickets at government bus stands for travel by state government or state PSU buses, train tickets at railway stations, and air tickets at airports, within 72 hours after the notification.

What is proof of identity?

Valid Identity proof is any of the following: Aadhaar Card, Driving License, Voter ID Card, Pass Port, NREGA Card, PAN Card, Identity Card Issued by Government Department, Public Sector Unit to its Staff.

Where can I get more information on this scheme?

Further information is available at .in .


Take Pledge and Be Clean

Lets Observe  Vigilance Awareness Week- 2016 on the theme “Public participation in promoting Integrity and eradicating Corruption” from 31st October to 5th November 2016.

Please Take Pledge and Show your Integrity. Your followers also will follow you by coming clean. Lets make corruption free India.

I took Pledge. Do you ?


CVC gives you Certificate of Commitment.



Length Article but Worth Reading it. Medical Emergencies are the one which takes away peace, money, knowledge….etc


Medical Emergencies & Your Money

This time, I want to talk about being smart with money during medical emergencies. I request the readers’ indulgence and want to share my learning from a medical emergency and how we can be smart with our money. The medical industry is designed to exploit the ‘fear’ and ‘ignorance’ factor and transfer wealth from the average individual to the group of players who dot the medical industry—doctors, hospitals, pharmaceutical companies, etc.
When medical emergencies arise, logic and reason take a back seat. You are ready for exploitation by the healthcare industry. The situation is compounded by the fact that corporate hospitals are sharply focused on their bottom-line and the doctors have to recover the exorbitant cost they have incurred on their medical education. Many of the emergencies would involve either a cardiologist or a neurologist or…

View original post 1,186 more words

Indian Adults are at Risk

Very alarming chart. Indian Adults are killing their lungs faster than Western countries. How it is possible for China to get First Place for every survey?


Quit Smoking Early and gain back your Life to enjoy with loved ones.


Source: Livemint and Google

What is the state of electron?

Abhinaelectronsv is preparing for NSO exam. I find NSO questions are very tough for his age and Why they are farming such a difficult things. at the age of 6, their brain itself is under development with lot of inputs from surroundings and self learning. Me and Priya got stuck for few questions and refered Google for the right answers. The another problem is lack of Science vocabulary which is slowing down the Abhinav pace. I have to blame NSO for their rush and more loading to Children. electron-motion

For some explanation, Abhinva paused me and asked below questions.

What is the state of Electron?

What  makes up Electron?

I was really shcoked because i never crossed these questions in my life and i found his question is very fundamantal and i even dont know it. I felt very shame.

Google gave me few answers which i cant explain easily to Abhinav because it will become base for many questions. But i will try to tell him in easy way.

  • Electron is subatomic & elementary particle which behave as particle and wave
  •  “State” is not applicable to Subatomic particle
  • A thermodynamic state (such as solid,liquid or gas)  is determined by combined statistical interaction of many particles. Individual Particle does not have well defined properties even the Temperature. Only collection of particles can have properties 
  • A state is a property of the way the atoms are arranged, and a single electron cannot be arranged.
  • Nobody knows what makes up electron

PS: It is been a month, i did not update the blog. Lazy disease has no medicine.

Image Courtesy: Google.

Connecting the Dots

Abhinav is Fast thinker in connecting Dots across many events. I wonder how he remembers all the things and connects it. His neurons are at work faster than normal ( I guess :))

Event 1:

Last month We all watched Age of Adaline. It was nice Sci-fi and Fantasy Movie but bit slow screenplay. Abhinav got a glimpse of story and he wondered ” How it is possible to stay young after lightning strike?”. But we convinced him that it is just a fantasy movie; So there wont be any proof of existence. Markandaya.jpg

Three days before, when Abhinav Sneezed, Priya Said ” theerkaaisu” ( தீர்க்கஆயிசு – தீர்க்கஆயிள்) for first sneeze, then “Markendaaisu” (மார்க்கெண்டஆயிசு). During Sneezing, Heart is stopped for a moment from its beating; People say ” god bless you” in western countries. In Tamilnadu, it is used to say “Muruga” in most of the places and “தீர்க்கஆயிசு & மார்க்கெண்டஆயிசு” in certain places. Abhinav asked the story of Markendaya and Priya Explained the story of Markendaya.

Abhinav quickly correlated Sage Markendaya and Age of Adaline. 

Event 2:

I used to take stories fromSquirrel.png Tamil Hindu website and share with Abhinav as a bed time stories.

I told one such a story about Squirrel a month before. Moral of the story is to learn the good things from parent and obedience with parent.

Story link here

Yesterday, After our play time at association ground, we were walking towards our house. We were discussing about obedience and the consequences if we dont follow it. It was very casual talk and Priya was insisting to follow Parent, Teacher…etc.

Abhinav quickly correlated Squirrel story with yesterday’s talk. Even I forgot about the story I shared. He told that I knew the consequences of obedience failure. Dont worry, Iwont be that squirrel.

It is amazing to see the correlation effect in children. 

Out of the Box Thinking

Abhinav is such a boy that he always think out of textbook and get low marks. We were happy that he is not part of herd. He proved in many occasions at home. But the problem is ” he started showing in exams too”.

Boxed vs Out of Box

Occasion 1:

Write words as per Pictures. One Woman who is physically fit and one Man who is physically unfit.

Picture Textbook answer Abhinav answer
Physically Fit Woman Thin Lean
Physically unfit man Thick Fat

English Literature madam gave wrong answer and asked Abhinav to follow exactly same as textbook.

Occasion 2:

Question and Answer

Why do we need a House?
Textbook answer:   We need a house for protection from Animals
Abhinav answer:    We need a House to Live

Madam gave wrong answer. Another friend of Abhinav wrote ” We need a house to stay” which also termed as wrong answer.

Occasion 3:

Write Opposite words

Word Textbook answer Abhinav answer
Like Dislike Unlike
Little More Big

Madam gave wrong answer and asked strictly to follow textbook answer.

Actually “Unlike” also right answer of opposite of “Like” provided Like is considered as preposition word. if you consider as verb, then “dislike” is right answer.

Actually “Big” also right answer of opposite of “Little”.

Certain School teachers are stopping the Students innovative mind. Actually they need to appreciate and encourage for “Out of Box thinking”


Did God tell you?

Last week we travelled to Bangalore. Each one enjoyed with their sibilings ( rightly pointed by my Brother). I had lighter moments with my Brother, Priya had lighter moments with Ramya, Abhinav had double moments with Danush and Diya. It is good to see Kids enjoyment with their siblings. Due to Rain and traffic, our plan for side trip was sidelined.

During Return, We were travelling in bus. As usual, Abhinab and Priya took nap. After the Nap, Abhinav started asking question which he was thinking or seeing outside the window. He saw one church and the conversation as follows.


Abhinav: Is it right to pray Jesus?

Me: Yes. we can pray.

Abhinav: Whether Christian can pray our Gods?

Me:  Yes. they can pray our Gods.

Abhinav: Whether Muslims can pray our Gods ? Whether can we pray Allah?

Me: I said, we all can pray any Gods. All Gods teach only one thing. They all say “Love everyone, Help everyone, True to everyone”.

Abhinav: Did god tell in your ears? That too all God tell you the same?

Me: I said with smile. God never talk to anybody. But there are Holy books for each God. In holy books, it is written as i said previously.

Abhinav still not convinced How Holy Books arrived, How Gods got power? Why so many Gods? Somehow i gave my answer to best of my knowledge.

Can anybody has better answer? Pl help.


Let me beat Usain Bolt not Michael Phelps

I was discussing with Abhinav about India’s Medal in Rio Olympics 2016. I expressed my concern of just two medals from the 1.252 billion population whereas USA got 121 medals from 316 million population.

I also shared with Abhinav that ” If you are interested, I will arrange for proper swimming training wiPhelps 2016 RIOth competitive mode”. Because in Olympics, you can easily get more medals from swimming category. Also, You are well-trained in Swimming which you also love to do. It will help you to participate in competition. As an example, I said Michael Phelps got 5 gold medals and 1 silver medal in Rio Olympics Swimming. On total, he has 23 medals across all Olympics.

Abhinav said to me very quickly that “Let me beat Usian Bolt not Michael Phelps” daddy. I am very much interested in running that swimming. Let me touch 100 meters in 2 seconds.Usian Bolt 9.81s RIO 2016

I was so happy that he did note my conversation with Priya and he grabs the note of “Fastest man in the world is Usain Bolt”. Though 2 seconds is very much impractical and unrealistic, Me and Priya expressed our happiness and proud moment in our eyes.


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