Rs 1000, Rs 500 currency notes to be out of circulation from midnight

November 8, 2016

New Delhi, Nov 8: Taking the nation by surprise, Prime Minister Narendra Modi tonight announced demonetisation of Rs 1000 and Rs 500 notes with effect from midnight, making these notes invalid in a major assault on black money, fake currency and corruption.

notes

In his first 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.

In his 40-minute address, first in Hindi and later in English, the Prime Minister 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.

ATM withdrawals will be restricted to Rs 2000 per day and withdrawals from bank accounts will be limited to Rs 10,000 a day and Rs 20,000 a week.

Banks will remain closed tomorrow and ATMs will also not function tomorrow and day after, Modi said.

He expressed confidence that the staff of banks and post offices will rise to the occasion to introduce the new order within the available time.

He also expressed confidence that political parties, workers, social organisations and the media will go further than the government in making it a success.

Besides depositing money in bank accounts, the Rs 500 and Rs 1000 notes can also be exchanged with lower denomination currency notes at designated banks and post offices on production of valid government identity cards like PAN, Aadhaar and Election Card from November 10 to November 24 with a daily limit of Rs 4000.

Those unable to deposit Rs 1000 and Rs 500 notes till December 30 this year can do so in designated RBI offices till March 31 next year after filling a declaration form along with proof and reasons, the Prime Minister said.

Rs 500 and Rs 1000 notes will be valid for transactions related to booking of air tickets, railway bookings, government bus ticket counters and hospitals till the midnight of November 11 and 12.

"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.

Comments

Skazi
 - 
Wednesday, 9 Nov 2016

Bupa, you lost the chance of stuffing pork
Now you can try this is on Sadvi, purohit, and other RSS terrorists

Bopanna
 - 
Wednesday, 9 Nov 2016

#4,Saleem, those who kill policewala deserve no mercy.
I would have stuffed pork in their mouths and shot them

naren kotian
 - 
Wednesday, 9 Nov 2016

hahaha saleem , they might be ur ummah , chummah ... who cares .,... they are terroroists ... we dont give damn ., pray for them yaar , 72 virgins jothe kabbadi aadli antha .... regarding najeeb , may be ask your isis leaders , he might be fighting in mosul :) haha ... bhagdhadi offer ge trap agi kabbaddi adbahudu antha hogirbeku ... ache din for natuonalkist indians who pay tax prompty ... hara hara modi .. jai jai modi ...

naren kotian
 - 
Wednesday, 9 Nov 2016

bhatkal ,ullal , kasargod , mallapuram , mulur hawala king pins will be crying .... ISI bosses will be struggling to send their counterparts required money to conduct jihad ... biryani boys of PFI are totally shocked ... faizhal bhai yelree ,,,, towel haakondu bundar nalli tootiddira .. hahaha ... banree ... papa ivattu bar ge hogodu faizhal bhai guarantee ...

Saleem
 - 
Wednesday, 9 Nov 2016

Good move by Modi to divert the attention from Bhopal Encounter and missing Najeeb.

Wa re wa ache din.....

Bopanna
 - 
Wednesday, 9 Nov 2016

Well said Naren, cannot see any of usual \truth seekers\" or \"anal ysts\" because they are trying to hide their ill gotten money. Those who were calling Modiji \"Feku\" look at this ! In one stroke he has nullified terrorists and black marketeers. No wonder Muslims hate him"

Althaf
 - 
Wednesday, 9 Nov 2016

Naren
I agree 100% with you. Jihadist Sanghis might have not slept last night. Poor guys.

Naren kotian
 - 
Tuesday, 8 Nov 2016

Wow ....hara hara modi ....jai jai modi ....jihsdist terrorism ...jihadist hawala network, jihadist chain snatchers and jihadists will not get sleep today .hahaha ....jihadist counterfeit kingpins and smugglers will be crying ....muah love u modi

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Agencies
July 30,2020

New Delhi, Jul 29: Air Commodore Hilal Ahmad Rather has become a buzz name in Kashmir overnight. Hilal saw off the first batch of Rafale jets which took off from France to India on Monday. Among other things, he has also been associated with the weaponisation of the Rafale aircraft for acclimatisation to Indian requirements.

Hilal is presently India's Air Attache in France.

The career details of this officer of the Indian Air Force (IAF) read like the decoration scroll of the best flying officer anywhere in the world.

Born in the south Kashmir's Anantnag district to middle-class parents, Hilal's father, late Mohammad Abdullah Rather retired as a deputy superintendent of police (Dy SP) in J&K police department. He has three sisters and is the only son of his parents. Hilal studied in Sainik School in Nagrota town of Jammu district.

He was commissioned in IAF as a fighter pilot on December 17, 1988, became flight lieutenant in 1993, wing commander in 2004, group captain in 2016 and air commodore in 2019.

He graduated from defence services staff college (DSSC). He also graduated from air war college (USA) with distinction. He won the sword of honour in NDA. Hilal is also the recipient of Vayu Sena Medal and Vishisht Seva medal.

With an impeccable record of 3,000 accident-free flying hours on mirage-2000, MIG-21 and Kiran aircraft, Hilal's name will now forever be associated with Rafale in India.

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News Network
May 12,2020

Udupi, May 12: The Coastal Bus Owner’s Association members have approached Deputy Commissioner to permit them to run bus service in the District.

Nearly 80 buses coming under the Coastal Bus Association and they are prepared to run the buses as per the guidelines set by the government. They have also requested RTO officials for permission to operate and are awaiting approval. If the bus service starts operating, many workers like drivers, conductors, cleaners, mechanics will get employment.

Coastal Bus Owners Association President Raghavendra Bhat said that the bus owners must provide services to the public as per regulations set by Deputy Commissioner.

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News Network
July 28,2020

Bengaluru, Jul 28: Several state Congress leaders, including its President D K Shivakumar, among others, were detained by police as they tried to march towards Raj Bhavan here against the alleged attempts by BJP to topple the party's government in Rajasthan.

Shivakumar, along with Leader of the Opposition Siddaramaiah, state Congress Working President Eshwar Khandre, Salim Ahmed among others were stopped by the police midway as they marched from KPCC office towards Raj Bhavan.

Congress leaders then staged a dharna at the place where they were stopped. Addressing the gathering, Shivakumar accused the BJP of trying to "murder" democracy by destabilizing and removing elected governments.

"We wanted to protest against it and submit a memorandum to the President through the Governor," but the Karnataka government by using police was not letting them proceed towards Raj Bhavan, he said. "Despite our being a peaceful protest, the police stopped us," he said.

Siddaramaiah, echoing similar views, said peaceful protests against injustice was the right of every citizen. Alleging that the BJP was attempting to destabilise and remove the elected government in Rajasthan as it did in Karnataka and Madhya Pradesh, he said the Governor's office there (Rajasthan) was being 'misused'.

The Governor was working like an agent of the central government, he charged. He said, despite repeated appeals by the Rajasthan cabinet, the Governor there had not convened the assembly session, for the floor test to take place and for Congress to prove its majority. Police subsequently detained Shivakumar and some other Congress leaders and took them to a nearby police station.

They were later released. Meanwhile, as the Congress' protest amid Covid19 pandemic did not follow social distancing norms, Medical Education Minister K Sudhakar hit out at that party's leaders. In a tweet Sudhakar said, for Congress leaders getting publicity was more important than social concerns.

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