Exchange Limit decreased to Rs. 2000 from Rs. 4500

RBI/2016-17/139

DCM (Plg) No.1302/10.27.00/2016-17                                                                 November 17, 2016

The Chairman / Managing Director/Chief Executive Officer,

Public Sector Banks / Private Sector Banks/ Private Sector Banks/

Foreign Banks Regional Rural Banks / Urban Co-operative Banks / State Co-operative Banks

Dear Sir, 

Withdrawal of Legal Tender Character of existing ₹ 500/- and ₹ 1000/- Bank Notes – Exchange over the counters 

Please refer to our Circular No. DCM (Plg) No.1226/10.27.00/2016-17 dated November 08, 2016 on the captioned subject.

2. On a review it has been decided that the limit of exchange of SBNs in cash, across the counter of the banks shall be ₹ 2000 with effect from November 18, 2016.This facility will be available only once per person.

3. Please acknowledge receipt.

Yours faithfully,

(P Vijaya Kumar)

Chief General Manager