Shillong, November 09: It has come to the knowledge of the Deputy Commissioner West Jiantia Hills District that today there is an undeclared shutdown in the Jowai market. There is no buyer and seller because of shortage of Rs 100 and lesser denomination notes. Sellers from far off villages are worst affected.
The Reserve Bank of India has demonetized Rs 500 and Rs 1000 note with effect from 9th November 2016. The DC urged the public not to be panic though the old notes have ceased to become legal tenders adequate measures have been taken by the government to safeguard your money.
The government has given a window of 50 days starting from 10th November 2016 till 30th December 2016 to deposit old 500 and 1000 notes in your bank accounts and post office accounts with no limit. Old notes can also be exchanged for new notes with denomination of Rs 500 and Rs 2000 with a limit of 4000 per day with ID proof.
New notes can be withdrawn from your bank accounts from 10th November 2016 with a daily limit of Rs.10000 and weekly limit of Rs.20000 per account. There is no bar on using debit and credit cards with POS machines to buy things in market. All electronic transactions continue to remain unaffected.
From 10th November 2016 new notes will be available in the ATMs with a withdrawal limit of 2000 rupees per day per card initially.The district administration is keeping a close vigil on the functioning of banks. All necessary efforts will be made to see that common citizen is not put to unnecessary harassment or inconvenience. Posted the Deputy Commissioner in social Media.
