New Delhi, Nov 9: In a bold move that shocked everyone, Prime Minister Narendra Modi on Tuesday announced that Rs 500 and Rs 1000 currency notes will no longer legal from Tuesday midnight. The decision to denotify Rs 500 and Rs 1,000 notes has been taken by the government to curb black money. Soon after Narendra Modi declared a ban on old Rs 500 and Rs 1000 notes, saying no transaction and purchasing can be done with these currency notes, people stormed to ATM centres to Rs 100 currency notes. However some people are still in confusion to what to do with old Rs 500 and Rs 1000 currency notes after the demonetisation.Also Read - PM Modi Wears Unique Uttarakhand Traditional Cap Embellished with Brahmakamal Brooch, Here's All About His R-Day Attire

Don’t panic, your money will be yours only. If you have cash in Rs 500 and Rs 1000 currency notes, you need to read the following points to understand what to do with your old Rs 500 and Rs 1000 notes. The first thing you should understand is that the decision to ban old Rs 500 and Rs 1000 currency notes won’t snatch away your wealth, if it has been disclosed to government.  You will get the equivalent amount of Rs 500 and Rs 1000 currency notes you have from banks and post offices. (ALSO READ: Can ban on Rs 500 and 1000 currency notes by Narendra Modi solve the problem of black money or will it only hurt the aam aadmi?) Also Read - Parade, Parakram And Pride: India Witnesses Many Firsts at 73rd Republic Day Ceremony

Here’s what you need to do if you have old Rs 500 and Rs 1000 currency notes: Also Read - 4 Reasons Why Tourism is The Next Growth Engine For India, TAAI President Jyoti Mayal Explains

1- Visit a bank or post office and deposit your Rs 500 and Rs 1000 currency notes into your account.

2- Since banks will be shut today, the process of depositing Rs 500 and Rs 1000 currency notes will begin from November 10.

3- You can deposit Rs 500 and Rs 1000 notes in your bank accounts till December 30.

4- You can also exchange the Rs 500 and Rs 100 currency notes with new currency from a bank or post office till 24 November.

5- The limit for exchange is Rs.4000 for now.

6- You need to show identity proof Aadhaar card and PAN Card to exchange Rs 500 and Rs 1000 notes.

7- Tourists can exchange the Rs 500 and Rs 1000 notes at airports.

Here are the places where you can use Rs 500 and Rs 1000 notes till November 11, despite the ban:

1- Petrol pumps will accept the old Rs 500 and Rs 1000 notes.

2- These notes will be accepted at government hospitals.

3- Railway, airline, government bus ticket booking counters will too accept the old Rs 500 and Rs 1000 currency notes.

4- Consumer co-operative stores run by state or central government will accept the notes.

5- You can use the old notes for cremation and burial.