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500 and 1000 Notes News Banned In India

Rs 500 and 1000 notes currency stand abolished from midnight: PM ModiLive update of PM Narendra Modi’s address to the Nation. Corruption, terrorism, black money weakening the nation.

500 and 1000 Notes News
500 and 1000 Notes News
500 and 1000 Notes Exchange
500 and 1000 Notes Exchange

In a major step to check black money, Prime Minister Narendra Modi on Tuesday announced demonetization of Rs 500 and 1000 currency notes with effect from midnight, making these notes invalid in a major assault on black money, fake currency and corruption. In his televised address to the nation, Modi said people holding notes of Rs 500 and Rs 1000 can deposit the same in their bank and post office accounts from November 10 till December 30.

500 And 1000 Rupee Notes Banned in India
500 And 1000 Rupee Notes Banned in India

“Banks will be closed tomorrow. It will cause some hardship to you….Let us ignore these hardships… In country’s history, there comes a moment when people will want to participate in the nation building and reconstruction. Very few such moments come in life,” Modi said.

 500 And 1000 Notes India
 500 And 1000 Notes India

 Modi said the notes of Rs 500 and Rs 1000 “will not be legal tender from midnight tonight” and these will be “just worthless piece of paper.” However, he said that all notes in lower denomination of Rs 100, Rs 50, Rs 20, Rs 10, Rs 5, Rs 2 and Re 1 and all coins will continue to be valid. He also announced that new notes of Rs 2000 and Rs 500 will be introduced.

Why 500 And 1000 Ntes Are banned In India
500 Nnd 1000 Notes

Updated: April 28, 2017 — 5:21 am

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