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In a stern warning to black money hoarders he said that there could be more steps taken to curb black money if needed.

PM Modi warns of more steps on black money, if required 

Virually every bank and ATM in India is seen filled with people and long queues snaking as people jostle to exchange or deposit Rs 500 and Rs 1,000 notes that have been demonetised.

Demonitisation aftermath: Chaos grows, queues get longer at banks, ATMs on weekend

If you are heading to ATMs or bank branches for exchange or deposit of your old Rs 500 and Rs 1,000 notes, here are important things that you should know.

Notes Exchange Facility: Here are key things you should know  

Till Thursday, SBI saw&nbsp;cash deposits of Rs 31000 crore out of&nbsp;which Rs&nbsp;700 crore were&nbsp;exchanged. &nbsp;In its Q2 review meeting held today, the bank said on Friday till now it has received Rs 22,000 crore of cash deposits and out of which Rs 723 crore were exchanged.&nbsp;

Demonetization aftermath: SBI records nearly Rs 40,000 crore cash deposits so far

Automobile sales could be impacted in the coming month as sales in many rural parts of India was done earlier using cash transactions.

Demonetisation impact: Car, bike sales to feel the heat

National Payments Corporation of India (NPCI) on Friday said “RuPay usage on Point Of Sale (PoS) / e-Commerce was around 8 lakh transactions a day compared with a daily average of 4 lakh transactions earlier. The value of transactions almost doubled.”

Banknotes ban effect: Transactions via RuPay cards nearly doubled

Nepal's banking system holds banned Indian currency notes

Cash management agencies hope to normalise ATMs operations in 2 weeks

The old notes can be used for making payment of utility services such as water, electricity, taxes, charges, penalties to central and state governments.

Now, you can pay water, electricity bills using old Rs 500, Rs 1,000 notes

While mobile wallets came out immediately with figures of how much people have increased using their services after PM Modi's announced, the fundamental question still remains whether people will revert to buying using cash once they have exchanged their currency.

Not mobile wallets, cash will still be king in India

Deposits above Rs 2.5 lakh to face tax, 200% penalty on mismatch

Currency demonetisation: Housing prices may see correction, says Knight Frank

Kotak Institutional Equities said, “We see the government’s move as a positive for the economy in the medium term. The latest step appears to be the final one in the government’s systematic approach to remove black money from the economy.”

Elimination of high-denomination notes is a good thing; here's why 

Patel said that RBI was concerned about growing menace of fake Indian currency notes which has been increasing in numbers.

New Rs 500, Rs 2000 notes: Here are the new features

Bhattacharya also mentioned that the SBI will work round-the-clock to meet the demand.&nbsp;

Rs 500, Rs 1000 notes expiry: Will domestic stock market bleed in tomorrow's trade?

For those who are worried what will happen their money, the government has given guidelines on how they can convert this money and not suffer any financial losses.

9 steps you must take to exchange your old Rs 500, Rs 1,000 notes

Rs 1000 and Rs 500 notes can be used in hospitals for 72 hours.&nbsp;

10 things PM Modi said apart from demonetising Rs 500, Rs 1000 notes 

rs-500-notes

Nepal has lifted its decade-old ban on carrying Indian Rs 200 and Rs 500 notes, allowing travellers from both countries to carry these denominations again. The move aligns with RBI rules and offers relief to tourists, patients, traders and border communities, making India–Nepal travel easier.

Travelling to Nepal? Rs 200 and Rs 500 Indian notes valid again after decade-long ban

The Reserve Bank of India (RBI) has released its annual report for the financial year 2022-23. The report shows that the number of fake Rs 500 denomination notes detected increased by 14.4% to 91,110 pieces in FY23. However, the number of fake Rs 2,000 denomination notes detected decreased to 9,806 pieces. Counterfeit notes of Rs 20 and Rs 500 (new design) increased by 8.4% and 14.4%, respectively. While, counterfeit notes of Rs 10, Rs 100, and Rs 2,000 declined by 11.6%. 

 RBI Annual Report: More fake Rs 500 notes in circulation than Rs 2,000

The soiled notes are those that have become dirty due to usage and may also be torn - sometimes two pieces of these bank notes are pasted together - which means two pieces of belonging to a same note are stuck together to form an entire note. 

Have these Rs 200, Rs 500, Rs 2000, other notes? Do this with your torn currency notes! Beware, your claim can be rejected too

In India, currently makeover of Rs 10, Rs 50, Rs 100 and Rs 500 has been done since notebandi. Meanwhile, the country also saw birth of Rs 200 and Rs 2000 in just two years.

Beware! Is your new  Rs 10, Rs 50, Rs 100, Rs 200, Rs 500, Rs 2000 currency note fake? Here are 9 ways to spot it

As of now, the RBI has only allowed the circulation of Indian currency notes of Rs 100 and less in Nepal and provides exchange facilities for bills of these denomination.

Nepal's plea to RBI: Make Rs 200, Rs 500, Rs 2000 currency notes legal in country

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PM Modi warns of more steps on black money, if required

Demonitisation aftermath: Chaos grows, queues get longer at banks, ATMs on weekend

Notes Exchange Facility: Here are key things you should know

Demonetization aftermath: SBI records nearly Rs 40,000 crore cash deposits so far

Demonetisation impact: Car, bike sales to feel the heat

Banknotes ban effect: Transactions via RuPay cards nearly doubled

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Top News

Stocks to Watch Today (May 13, 2026): Vodafone Idea, Bharti Airtel, Dr Reddy’s, Tata Power, Dixon Tech and more

5:1 Bonus Issue: This wire maker company shares rally as profit jumps 177% and bonus issue announced; check details

Mutual Fund Investment Trends: Who gained, who slowed, and where did investors move money in April?

250% Dividend Announced: This Tata Company announces dividend despite Q4 profit loss; check record date

Work from home, carpooling amid energy crisis: This university issues new advisory after PM Modi’s appeal

GDP data release schedule revised; FY26 estimates now due on June 5