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

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
News Network
January 26,2020

Mangaluru, Jan 26: A 55-year-old man has been arrested for allegedly attacking his sister-in-law and her daughter with acid used to make rubber sheets in Dakshina Kannada district of Karnataka, police said on Saturday.

The victim, a 35-year-old widow with three daughters, has been admitted to the government Wenlock Hospital here with severe burns. Her daughter, who suffered minor injuries, is also hospitalised.

In her complaint, the woman said her late husband's elder brother came to her house on Thursday, abused her in foul language before opening an acid bottle and throwing its contents at her through the window.

The woman suffered burn injuries on her face, neck and shoulders and her daughter on her legs and hands.

The victim's husband had taken a loan of Rs 5 lakh from a cooperative bank but died in 2018 after paying only two instalments and the woman could not repay it further.

The bank's notices kept coming to the elder sibling's address, which infuriated him. There was also a long-pending land dispute between the two, sources said.

Based on the woman's complaint, a case was registered on Friday and the man arrested soon after. Kadaba sub-inspector police Rukma Naik visited Wenlock

Hospital to record the woman's statement, police added.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
News Network
May 12,2020

Mangaluru, May 12: The Karnataka government has ordered that Dakshina Kannada and Udupi districts be considered as one unit for the movement of people to undertake permitted activities between 0700 hrs to and 1900 hrs.

Principal Secretary and Member Secretary, Karnataka State Disaster Management Authority, T K Anil Kumar, in an order, said that there was no need for different passes for commuting by people between these two districts.

However, people should carry their identity cards issued by their respective enterprises/ companies to show that they are carrying out permitted activities only, he said.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
News Network
January 17,2020

Bengaluru, Jan 17: Chief minister BS Yediyurappa is likely to induct new ministers into his cabinet only after he returns from Davos, Switzerland, on January 25.

Yediyurappa will leave for Davos on January 19 to participate in the World Economic Forum’s 50th annual meet.

Sources say Yediyurappa is keen on expanding his cabinet before he leaves for Davos and is still trying to secure the green signal from BJP national president Amit Shah. However, Shah has cold-shouldered Yediyurappa’s several requests for a meeting to discuss the issue.

Shah is scheduled to visit Karnataka on January 18 to participate in a pro-Citizenship (Amendment) Act rally in Hubballi and the CM plans to corner him there. But, given the time constraint, Yediyurappa is likely to put off the exercise till he returns from Davos even if Shah extends approval.

“Even if Shah gives the green signal, Yediyurappa will have less than 24 hours to expand his cabinet,” a source said. “It is highly unlikely he will rush through the process of inducting ministers. Also, his presence is required to douse disgruntlement which is bound to arise once the new ministers are sworn in.”

The CM and the party high command are on different pages as far as cabinet expansion is concerned. While Yediyurappa is hell-bent on keeping his promise of inducting all the newly elected MLAs, who switched from Congress and JD(S) to the BJP, Shah is keen on sharing vacant berths equally between loyal MLAs and the new entrants. There are 16 cabinet berths vacant.

Shah, sources said, is of the opinion that giving 12 berths to the turncoats will lead to heartburn among loyalists and it will impact the party’s prospects in the next election. “Moreover, he is of the opinion that none of the turncoats have mass appeal, nor do they have any administrative experience. This, he thinks, will impact governance,” said a source.

This has resulted in a deadlock and the issue has dragged on for a month now.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.