500, 1000 rupees notes will not be a legal tender from midnight

Started by Kalyan, Nov 09, 2016, 02:19 AM

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Kalyan

500, 1000 rupees notes will not be a legal tender from midnight


Kalyan

In a dramatic move, Prime Minister Narendra Modi announced the government is scrapping with immediate effect the existing currency denominations of Rs 500 and Rs 1,000 to combat black money, corruption and terror-financing.

"These notes will just be paper from tomorrow," Prime Minister Modi said in a televised address to the nation.

Notes and coins of all other denominations continue to be legal tender. There will be no change in any other form of currency exchange, be it cheque, DD, payment via credit or debit cards etc.

Currency notes of Rs 500 and Rs 1,000 can be exchanged in banks and head post offices till December 30, 2016, by producing a valid identity like PAN card, Aadhaar or a Voter ID card. Failing this these notes can be exchanged at a local Reserve Bank of India office till March 31, 2017.

ATMs will not function till November 9 and in some places till November 10. However, some exceptions have been made on humanitarian grounds. Government hospitals will continue to accept 500 and 1,000 rupee notes. Medicines can be purchased with these notes for the next 72 hours.

Prime Minister Modi said that the RBI will issue notes of Rs 500 and Rs 2,000, but will limit notes with higher value.

courtesy: news18

Kalyan

2000 Rs Currency Note INDIA Sample Photo Released


ganeshbala

New indian Coins and 2000 rupee currencies

New Indian 20 rupee coins
New Indian 100 rupee coins
New Indian 150 rupee coins
New Indian 2000 rupee currencies

karthick

#4
Nov 09, 2016, 05:01 AM Last Edit: Nov 10, 2016, 08:36 AM by Sudhakar Reason: youtube link fixed
Why Rs 500 and 1000 should go Away - Pichaikkaran

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A part of Development in Our Website Front Page
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karthick

Rj Balaji's Take on Currency Change

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We simple build everything with sense
----karthick....

ganeshbala

#6
Nov 09, 2016, 03:33 PM Last Edit: Nov 09, 2016, 03:40 PM by ganeshbala
Procedure to change your old 500rs and 1000rs currencies

anubhav jain


anubhav jain

People, who have black money use this way

Sudhakar

Dear Team,

Looks to be a good idea. But honestly a bad idea.

lets hope for the best and see what's the future of our country with this changes.

Today i received a email and sms from all the banks am associated with kotak bank sms alert, icici bank sms alert, standard chartered bank sms alert / sc bank sms alert, axis bank sms alert and finally emails from kotak bank email alert and icici bank email alerts which i will share you for better understanding.

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