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Currency ban: Banks to remain open this weekend

Currency ban: Banks to remain open this weekend

India Blooms News Service | | 09 Nov 2016, 10:55 pm
New Delhi, Nov 9 (IBNS): In the wake of the Centre's decision to scrap all old Rs 500 and Rs.1000 notes, all banks will remain open on Saturday and Sunday this week to facilitate the process of replacement of currencies.

In a bold step to curb the usage of fake Indian currency and combat the issue of black money, Prime Minister Narendra Modi on Tuesday announced  on demonetization of Rs. 500 and Rs. 1000.

People will now have 50 days to exchange these notes.

While banks remained shut on Wednesday for public transactions, the government ensured that the exchange process of these currencies will start from Thursday onwards and will continue till Dec 30.

There will be a limit on withdrawal of Rs. 10,000 per day and Rs. 20,000 per week.