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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coastaldigest.com news network
July 15,2020

Udupi, Jul 15: Two doctors and four staff members of the Udupi District Hospital have been tested positive for coronavirus.

While one doctor is undergoing treatment at the designated covid hospital, the other one, who is said to be asymptomatic, is being treated at his residence.

After four staff members of the hospital tested covid positive, the throat swabs of their contacts including other staff of the hospital and family members were also sent for testing. 

Meanwhile, a person who was undergoing treatment in the district hospital for some other ailment also tested covid positive triggering panic among other non-covid patients.

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News Network
June 18,2020

Bengaluru, Jun 18: The ruling Bharatiya Janata Party (BJP) nominated Prathap Simha Nayak, M.T.B. Nagaraj, R. Shankar and Sunil Valyapure to contest in the June 29 biennial elections for 4 of the 7 Karnataka legislative Council seats, an official said.

"Our high command selected 3 of the 4 candidates the state core committee recommended on Tuesday, excluding H.R. Vishwanath, a former Janata Dal-Secular (JD-S) rebel, who lost in the December 5 Assembly by-elections from Hunsur in Mysuru district on a BJP ticket," a party official said.

Nagaraj, a former Congress rebel, who also lost in the Assembly by-election from Hoskote in Bengaluru Rural district on a BJP ticket, was the state housing minister in the 14-month-old JD-S-Congress coalition government, which fell on July 23, 2019 after 17 of their rebels resigned then.

Shankar, who was an Independent and a minister in the former coalition government, was not given the BJP ticket to contest in the December Assembly bypolls though he too resigned from the Ranebennur assembly seat in Haveri district, about 340km northwest of Bengaluru, along with former Congress and JD-S rebels.

Valyapure is the party's grass-root leader from Chincholi in Gulbarga district in the state's northern region, about 586km from Bengaluru.

Valyapure extensively campaigned in the May 2019 general elections and ensured the victory of BJP candidate Umesh Yadav from the reserved Gulbarga Lok Sabha seat, defeating Congress senior leader Mallikarjun Kharge.

Nayak is also the party's grassroot cadre who rose from the ranks to become its Dakshina Kannada district president in the state's coastal region.

As the ruling party has 116 legislators in the 225-member Assembly, all its 4 candidates will need 28 votes each to win the contest.

Of the 7 outgoing Council members, 5 are from the Congress and one each from the Janata Dal-Secular (JD-S) and an Independent.

With 68 lawmakers, the Congress will be able to retain 2 seats and the JD-S one as it has only 34 legislators in the lower house.

The Congress has nominated its outgoing Rajya Sabha member B.K. Hariprasad and outgoing Council member Naseer Ahmed to contest for 2 Council seats.

Of the 75-member Council, the opposition Congress has 37, BJP 19, JD-S 16, two Independents and one Chairman.

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News Network
April 28,2020

Bengaluru, Apr 28: Former Karnataka chief minister Siddaramaiah on Tuesday suggested that the government can allow sale of liquor in green zones. 

“Merely because there is an economic slowdown in the state, I don’t recommend that alcohol should be allowed to be sold. But, wherever there are green districts, they can open (liquor sale) with certain restrictions, I think,” Siddaramaiah, the leader of the Opposition, told reporters. 

There are 14 districts in the state that are categorised as green because they do not have any active COVID-19 cases. The green districts are: Yadgir, Raichur, Koppal, Haveri, Davangere, Shivamogga, Chitradurga, Udupi, Chikmagalur, Hassan, Kodagu, Chamarajanagar, Ramanagara and Kolar.

There is tremendous pressure on the B S Yediyurappa administration to revive the economy as the lockdown has dried up all revenue sources. Excise, alone, accounts for 18 per cent of Karnataka’s own tax revenue. 

The Excise department recently suggested allowing regulated sale of liquor through the state-run MSIL outlets. The government, however, did not approve it fearing crowding and backlash from the Centre.

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