No body expected such announcement will come from the Prime Minister Mr. Modi on 08th November 2016. The present Rs. 500 / 1000 are just termed as an ordinary paper and the people who holds these currency now can exchange them to any bank to get new currency notes (in the denominations of Rs. 500 / Rs. 2000) or to its equivalent valid currencies (such as in the denominations of Rs. 100 / Rs. 50). It is the difficult time for black money holders (money came illegally) and fake currencies. But the people who have legal money are also suffering a lot for this hard decision. They have to approach the bank from 10th November 2016 and handover such old Rs. 500 / Rs. 1000 notes in the bank they wish. The last date to submit them is 30th December 2016. After that, such currencies will no longer accepted in any bank for exchange. So what is more difficulty now the people facing is finding time to approach the bank as they may have their regular day-day activities / work. Bank is also being crowded so that it is the question of how fast they can exchange the old notes. In this connection, those who are going for regular jobs, may seek others help to deposit their old currencies in bank account. But the bank will ask an authorization written by you, in case, other person comes for depositing / exchanging those old currencies in your account. So here is the solution. You need to write a letter authorizing a person to deposit money in your account. Read the sample letter format below.
I am one of the royal customer of your concerned SBI bank here. I want to surrender all Rs.500/ Rs.1000 notes as per Govt of India announcement. Due to my current job, I am not able to come in person to the bank. So I am authorizing another person named R.Peter on behalf of me to exchange such old notes. Please accept him as authorized person for my account and do the needful. My account details are provided below. Thanking you!
Letter format Authorize a person for depositing / exchanging old Rs. 500 / Rs.1000 notes
53 Alwar Street,
The Bank Manager,
Sub: Authorization letter for exchanging old Rs.500 / 1000 notes in my account by other person.
My account number: _____________ (Write full account number here)
My PAN number: ______________ (Write your PAN card number here)
Note: The person you authorize should also keep him identity proof to show in the bank.
P.S: This letter format is sample only. Replace personnel details with your particulars. See below the old Rs. 1000 and Rs. 500 notes of India.
Rs. 500 INR note:
Rs. 1000 INR note: