Request Details

Basis for the decision to stop exchange of old currency in banks

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Government level: Government of India (India)
Agency/Ministry: Prime Minister's Office
Addressed to: P K Roy

Respected sir 

As per the Honorable Prime Minister's announcement on the 8th of November, the exchange limit in banks for the 500 and 1000 rupee denominations was to be increased from the 24th. However, the exchange was all together withdrawn for these denominations on this date. 

In this context, Kindly provide information for the following:

 What was the basis for amending decision? Kindly provide  documents and orders that indicate why this decision was amended.