RBI: New Currency notes of Rs. 500 in circulation from today (19th December)
RBI has announced that the new 500 rupees note denomination will be distributed by all government sectors banks from today onwards (Monday, 19th December).
A brief on the press release by RBI regarding this:
For the first time, the new currency notes of Rs. 500 denomination with star mark are being circulated in the market. The bundles containing 100 notes of the new Rs. 500 notes will not be in serial order. Similar bundles of denominations of notes of Rs. 10. Rs. 20, Rs. 50, and Rs. 100 are already in circulation.
Meanwhile, all the govt and private banks are considering whether to relax the restriction of the weekly maximum amount withdrawal of Rs. 24000.
The new 500 rupees notes are set to be distributed from today (Monday, 19th December 2016).
As there is a severe shortage of printed notes, the banks are not in a position to cater to the customers fully.
However, as its expected that the new Rs. 2000 notes and new Rs. 500 notes are to be released in circulation before the end of next week, the current restriction of maximum Rs. 24000 may be relaxed.