All about demonetisation timeline

Rules of cash deposits and withdrawals are changing every day.

13 November
*Daily withdrawal limit of Rs 10,000 by cheque lifted

*Weekly withdrawal limit enhanced to Rs 24,000

*ATM withdrawal limit hiked to Rs 2,500

*Exchange limit hiked to Rs 4,500 per person

Positive: Positive steps for customers as liquidity got enhanced.

14 November
*Weekly withdrawal limit for current accounts hiked to Rs 50,000 but predominantly in new Rs 2,000 notes.

*Deadline for using banned notes in specific places extended till 24 November

Positive : Relief to business establishments.
Gave relief to citizens by allowing wider use of banned notes.

15 November *Indelible ink mark to be put on finger of person exchanging old notes.

Positive: Money mules changing for hoarders got hit.

16 November
*Cash deposits will need PAN if combined sum exceeds Rs 2.5 lakh.

*If combined cash deposits exceed Rs 2.5 lakh, bank will report to tax department. Threshold earlier Rs 10 lakh.


Positive: Money laundering through multiple bank accounts got hit.

17 November
*Families allowed to withdraw up to Rs 2.5 lakh from one account for wedding.

*Limit to exchange old currency notes reduced from Rs 4,500 to Rs 2,000 per person.

2,500 petrol pumps of PSU oil companies to dispense cash by swiping of debit/credit card via POS (Point of Sale) machines.

Positive: Positive step for customers as liquidity got enhanced

18 November
*Government warns that misuse of bank accounts will lead to prosecution.

Positive: Money mules depositing cash in accounts will be hit.

Also Read: Why tax radar may detect your cash deposits after Nov 8

Also Read: How to check if your Rs 2,000 note is real or fake