Rs 500 And Rs 1,000 Notes Exchanged: People Are Sharing Selfies With The New Rs 2,000 Notes
On November 8, Prime Minister Narendra Modi made a sudden announcement demonetising Rs 500 and Rs 1,000 notes. Instead, he said, that new notes of Rs 500 and Rs 2,000 will be issued.
The surprise move was designed to bring billions of dollars worth of cash in unaccounted wealth into the mainstream economy, as well as hit the finances of militants who target India and are suspected of using fake 500 and 1000 rupee notes to fund operations.
While banks remained closed on November 9 as per government instructions, they re-opened on Thursday to facilitate exchange or deposit of monetised currency notes of Rs 500 and Rs 1,000.
Long queues were seen at bank branches across the country. In fact, people started arriving at the banks even before they had opened.
Although many struggled thinking what to do with their demonetised notes after the PM's decision to suddenly withdraw all Rs 500 and Rs 1,000 notes from circulation, the craze among people to see the new Rs 2,000 note remained high.
So when the new notes were handed to customers on Thursday, people took to social media platforms to share a selfie with the new Rs 2,000 note.
While some debate as to what purpose does scraping the Rs 500 and Rs 1,000 notes fulfill when higher denomination notes of rs 2,000 is being introduced, others are simply happy with the new currency notes and with the fact that their demonetised notes have been exchanged without too much delay.
Recommended For You
- England vs South Africa: Proteas Defeat Hosts by Three Runs in 2nd T20I
- Honda CLIQ Review: The Grown-up Navi That's Not Just Another Activa
- BCCI Extends Timeline for Fresh Applications for Vacant Coach Job
- Exclusive: Read Excerpts From In the Name of God by Ravi Subramanian
- 2-Minute Exercise: Gauahar Khan Talks About The Benefits of Squats