Can i mail 500 and 1000 notes demonetization

A very specific and timely question!

After the demonetization of ₹500 and ₹1000 notes in 2016, the Reserve Bank of India (RBI) and the Government of India have taken several measures to facilitate the exchange of these notes. Here are the current rules:

Exchange of demonetized notes:

  1. RBI Offices: You can exchange the demonetized notes at any RBI office, but you need to make an appointment in advance. The RBI has designated specific branches for this purpose.
  2. Commercial Banks: Commercial banks, including public and private sector banks, are also authorized to exchange the demonetized notes. You can visit any bank branch with the notes and exchange them for valid currency.
  3. Post Offices: Post offices are also authorized to exchange the demonetized notes, but the limit is ₹2,000 per person.

Limitations:

  1. Cash Limit: The cash limit for exchanging demonetized notes is ₹4,000 per person per day at RBI offices and commercial banks.
  2. Identification: You need to provide valid identification proof, such as Aadhaar card, PAN card, driving license, or passport, to exchange the notes.
  3. Form 60: You need to fill out Form 60, which is a declaration form, to exchange the notes.

Mailing the notes:

Unfortunately, it is not possible to mail the demonetized notes to the RBI or banks. The exchange process requires physical presence and verification of the notes.

What to do with large quantities:

If you have a large quantity of demonetized notes (like 500 and 1000 notes), you can consider the following options:

  1. Deposit in Bank: You can deposit the notes in your bank account, but you may need to provide a declaration and proof of identity.
  2. Exchange at RBI Office: You can visit an RBI office and exchange the notes, but you need to make an appointment in advance.
  3. Donate to Charity: You can donate the notes to a recognized charitable organization, which can then deposit them in their bank account.

Please note that the RBI and banks have strict guidelines for exchanging demonetized notes, and you may need to provide additional documentation or proof of identity. It's always a good idea to check with the RBI or your bank for the latest information and guidelines before exchanging the notes.