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The 10 Things To Know About Rs 500 and Rs1000 Currency Ban: A Big surprise to the nation on Tuesday (8/11/2016) Prime Minister Narendra Modi announced that currencies with Denomination of Rs 500 and Rs 1000 will not be legal tender from midnight tonight.
Currency-Ban |
10 Things To Know About Rs 500 and Rs1000 Currency Ban?
- Currency notes of Rs 1000 and Rs 500 will not be legal tender from midnight
- Corruption, fake currency, and terrorism are festering wounds, holding back the economy, PM Narendra Modi said in his address to the nation
- From across the border, our enemies running racket in India through fake currency: PM Modi
- Prime Minister said these notes can be exchanged in banks and post offices from November 10 to December 30
- Those unable to deposit Rs 1000, Rs 500 notes by Dec 30 for some reason, can change them till March 31, 2017, by furnishing ID proof
- Arrangements will be made for people arriving at airports to exchange currency up to Rs 5,000: PM Modi
- The Prime Minister also said that hospitals will be allowed to take currencies of these denominations till November 11
- In his opening remarks, PM Modi said black money to the tune of Rs 1.25 lakh crore has been unearthed during last two-and-a-half years.
- Prime Minister Narendra Modi also said that banks will be closed on November 9
- ATMs will also remain closed on November 9 and November 10 at some places.
Watch Prime Minister Narendra Modi’s address to the Nation
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