PM Narendra Modi bans Rs 500 and Rs 1,000 notes

Prime Minister Narendra Modi addressing nation today said, “India has registered itself as a bright spot, and its not that this is a claim made by us, but by IMF and World Bank.This Govt is dedicated to the poor, and will continue to do so.”

Modi said, “In all our policies, we are dedicated for the upliftment of entire society. There is a time when you realise that you have bring some changes in society, and this is our time to feel the same.”

“Corruption and black money is something we have fought for immediately after assuming office. The process of cash circulation is directly related to corruption in our country impacting the lower classes of our society,” he also added.

PM Modi made a big remark in today’s address, made a decision that from Midnight Nov 8, 2016 today, Rs500 and Rs1000 notes are no longer legal tender.

So Whats Next?

– From midnight tonight (Nov , Rs 500 and Rs 1000 notes won’t be legal tender anymore.– For the next 50 days, until 30 Dec 2016,old notes of can be deposited and exchanged at post offices and banks.– For 72 hours, until Nov 11 midnight, all govt hospitals will accept old Rs 500 and Rs 1000 notes.– There will be no change in any other form of currency exchange be it cheque, DD, payment via credit or debit cards, online payments, etc.

 Source: http://newsworldindia.in/india/rs-500-rs-1000-notes-will-be-banned-from-midnight-pm/234728/