you have two months to deposit all your 500/1000 rupee notes in bank or post office.
banks and atms would be down tomm and day after.
after 2 days you can take out just rs. 2000 per account from atm for a few weeks.
the limit would be increased with time.
for the first 2 weeks, folks can get only Rs. 4000 deposited per day iirc. rbi website should have a circular related to this.
Rs 500 & Rs 1000 notes banned from tonight; they will cease to be legal tender from tonight;
Can only be deposited in banks accounts, head and sub-post offices;
You can exchange them in banks & post offices between Nov 9 and Dec 30, 2016;
ATMs will dispense only Rs 2000 a day, later to be increased to Rs 4000 per day;
Those who miss the Dec 30 deadline, can exchange old Rs 500 and Rs 1000 notes through RBI on the basis of declaration;
Till Nov 11 midnight, hospitals will accept Rs 500 & Rs 1000 notes and on basis of prescription can buy medicines from drug stores on hospital shops;
Govt buses ticket booking counter, airlines will accept them for booking tickets till Nov 11 midnight;
Petrol & CNG outlets, crematoriums, international airports will also have leeway to accept Rs 500 & Rs 1000 notes till Nov 11;
Non-cash transactions (cheques, demand draft, card payments) not to be affected;
ATMs to be closed on Nov 9 & 10;
All banks closed on Nov 9 for public transactions.
Modi said that starting tonight the Rs 500 and Rs 1000 notes will only be worth the paper they are printed on. He added that ATMs will not work in some places on November 9 and November 10. He said that people have 50 days, from November 10 to December 30 to deposit notes of Rs 500 & Rs 1000 in any bank or post office.
PM Modi said that new notes of Rs 2000 and Rs 500 will be circulated soon. He further said that for the initial 72 hours, government hospitals and petrol pumps, CNG gas stations will accept the old Rs 500 and 1000 notes till November 11 midnight.
Boy am I in a sticky situation! Went to the ATM only this afternoon and almost emptied my account. I literally have 8k in 1000 rupee notes and a 20 rupee note in my hand. What am I supposed to do for these two days?