Rs. 500 and Rs. 1000 Old Notes Discontinued || Bank will Remain Open On Saturday and Sunday

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Posted by : Pankaj
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Rs. 500 and Rs. 1000 Old Notes Discontinued , New Rs.500 and Rs.2000 Note Will Be Circulated Soon || Bank will Remain Open On Saturday and Sunday

News Source

Prime Minister Narendra Modi on Tuesday, in an unexpected address to the nation, said that the country was doing away with Rs 500 and Rs 1,000 notes in an effort to weed out corruption, black money and in turn poverty and terrorism. Modi said that the government believes the time has come to “take a strong decision” on tackling these problems, suggesting that counterfeit notes from across the border were being used to fund terrorism.

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new-2000-note

 

 

 

 

 

 

 

Important Announcements By PM Narendra Modi: 

  • From midnight, the Rs 500 and Rs 1000 will cease to be legal tender.
  • The 500 and 1000 Rs notes can be submitted to the post offices and banks from 10th November to 30th December.
  • Those who can’t sumbit the notes till March 31, 2017 , can exchange it at Reserve Bank of India by providing a declaration.
  • On November 9 and in some places November 10, ATMs will not work.
  • For 72 hrs, until Nov 11 midnight special arrangements made. All government hospitals will accept old 500 & 1000 notes.
  • RBI’s proposal for new Rs 2000 note has been accepted.
  • On November 9, all banks will remain closed for public work.
  • This government is committed to the poor: PM Narendra Modi in address to the nation.
  • In spite of 2 years of continuous drought, in the last two-and-half years, india has made its presence felt in global economy.
  • We are among fastest-growing economies, but we also rank high in global corruption rankings
  • Black money and corruption has taken roots in the country, these are the biggest obstacles in eradicating poverty.
  • India’s common citizens live their lives honestly. But black money, corruption make the nation hollow from inside.
  • In the last two-and-half years, at least Rs 1.25 lakh crore worth black money has been recovered.



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