This has been a big question to use old 500 and 1000 rupees notes in India.
How to exchange old 500 and 1000 rupees notes?
There are few sources at which you will be able to use these old notes are-
- Petrol pumps
- Government hospitals
- Monuments maintained by the Archeological Survey of India
- Crematoriums or burial grounds
- Government pharmacies
- Consumer cooperative stores
- Buying gas cylinders
- Paying utility bills
- Government milk booths
- Some local Shops
Still there are places in metropolitan cities in India where Old notes are getting used to exchange goods.
You can simply visit these places and exchange you old note or you can buy the goods and services from them.
However, They may not provide you the exchange of total money but still there are ways to convert them.
There are many local exchangers available in cities. People who do not have enough time are getting exchanged with their policy. Sources also inform that
Exchange rate is Rs 450 for every 500 and Rs 900 for every 1000 rupee note. This rate is decided by the local exchange and does not depends on the banks .