Denomination of Currency In india and Rules about Them
New 2000 Rupees Denomination
New 500 Rupees Denomination
Their has been a change of Currency in India the Ruling government Bjp has changed the the denominations of 500 and 1000 Rupee Notes in India it was done to eradicate the black money holders who hold a large amount of Liquid cash on their hand and it was also said that this was also done to eradicate the practice of printing the fake currency notes in India.
The prime Minster Narender Modi has said that it was just a begening to wash out the black money in india. as they have declared the 500 and 1000 Denominations UN-valid and has given a time of as the last date upto 31 December 2016 and only a limit of 10000 rupees per day and 20000 rupees per week can be withdrawn from an account from bank.
To exchange the old denomination one can only exchange an amount of 4000 per person in a bank and as their no new restrictions on the internet banking or cash transfer.
And if some one has found with any UN accounted money then they shall pay an penalty of 200% their has been a limit of 2.5 Lakhs amount which can be deposited in bank if any one exceeds the limit then they shall provide the proof of the source of income otherwise they will be imposed penalty.