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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News Network
May 8,2020

Bengaluru, May 8: Karnataka Chief Minister B S Yediyurappa said his government is clear in its stand on extending every possible help to the farmers. The Chief Minister spoke to the farmer-leaders of the state, who wanted their concerns to be heard and addressed, with regard to the problems the agrarian community has been facing in the wake of the COVID-19 lockdown.

"We will soon make our position clear on supporting the farmers. We will not allow any hindrance to come in the way of agriculture activities," Yediyurappa told the farmer- leaders.

The Chief Minister told the delegation that the pre-monsoon activities are in full swing in the state.

The government has also set up help centres and been providing agriculture equipment on rent, the Chief Minister said. In most of the places, at least 80 per cent of the standing crops have been harvested.

Arrangements have been made to bring equipment from neighbouring states to harvest the standing crop, he said.

Yediyurappa said fertilisers and seeds are available in abundance in the state.

He informed the farmer-leaders about the arrangements made to transport flowers, vegetables and fruits to other states.

Similarly, the market has been developed for the farmers to sell their products, said the Chief Minister.

He said the government is working out a compensation for farmers who lost their crops due to hailstorm in Raichur, Koppal and Ballari. Agriculture Minister B C Patil, Horticulture Minister Narayana Gowda, Revenue Minister R Ashoka, Chief Secretary T M Vijay Bhaskar and Development Commissioner Vandita Sharma were also present in the meeting.

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News Network
January 12,2020

Bengaluru, Jan 12: Janata Dal (Secular) chief and former prime minister H D Deve Gowda on Sunday refuted reports of him contesting in the Rajya Sabha elections and added that he is more concerned about strengthening his party in Karnataka.

"I am not interested in going to Rajya Sabha. My concern is to build and strengthen the party in the region to the best of my ability. I had declared earlier that I will not contest elections anymore," Deve Gowda told ANI here.

"My party MP D Kupendra Reddy is there in the Rajya Sabha as of now and further decisions will be taken by the party. In March 2019, towards the end of the 16th Lok Sabha I had declared that I will not contest any more elections," Deve Gowda added.

Four Rajya Sabha seats in Karnataka are about to fall vacant in June this year as two of Congress, one of BJP and JD(S) MPs retire.

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News Network
January 1,2020

Mangalore, Jan 1: Under the aegis of the Dakshina Kannada District Jatyateeya Paksha Sanghatanegala Janti Vedik, Members of Congress, Communist Party of India, CPI (M), Janata Dal (Secular) and other secular organisations will stage a dharna on January 2 here demanding a judicial inquiry into the firing on December 19.

Talking to reporters on Tuesday evening, former Bantwal MLA B Ramanath Rai said the dharna will be held before the statue of B R Ambedkar, near the Town hall, from 1000 hrs to 1600 hrs.

Mr Rai said allegations are being made that the trouble in the city on December 19 was orchestrated by certain political parties and leaders. The city police are also being accused of acting under the influence of the ruling government in invoking prohibitory orders to quell the protest against the Citizenship Amendment Act (CAA) and later firing at the protesters that led to two deaths.

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