Tuesday, November 8, 2016

LIVE: Rs 500 and 1000 currency notes stand abolished from midnight: PM Modi

Rs-500 INR and Rs-1000 INR Get banned from tomorrow. This will applied from today mid night i.e., 00:00 AM. It is a great move by modi to catch corrupt people.
In a major step to check black money, the

prime minister 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.

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.

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