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War on Black Money | Move to Scrap Rs 1,000 and Rs 500 Notes Will Help in Long Run, Says RBI

News18.com | November 9, 2016, 12:02 AM IST
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Currency notes of Rs 500 and Rs 1,000 won’t be valid from midnight, PM Narendra Modi says in an address to the nation.

“Currency notes of Rs 1000 and Rs 500 will be just paper with no value,” the PM says.
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Nov 8, 2016 9:59 pm (IST)
Nov 8, 2016 9:57 pm (IST)

If someone is receiving Rs 1000 & Rs 500 notes after tonight, he is doing it at his own risk: Shaktikanta Das

Nov 8, 2016 9:56 pm (IST)
Nov 8, 2016 9:55 pm (IST)
Nov 8, 2016 9:55 pm (IST)
Nov 8, 2016 9:43 pm (IST)
Rs 500 and Rs 1,000 Currency Notes Scrapped, Banks Closed Tomorrow

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.

Nov 8, 2016 9:42 pm (IST)
Nov 8, 2016 9:42 pm (IST)
Nov 8, 2016 9:32 pm (IST)
Nov 8, 2016 9:32 pm (IST)
Nov 8, 2016 9:30 pm (IST)
Nov 8, 2016 9:30 pm (IST)

Control rooms formed in RBI in Mumbai 022 22602201, 22602944 will be operable 8 am onwards on November 9.   

Nov 8, 2016 9:26 pm (IST)

The new series will be known as Mahatma Gandhi new series bank notes. Rs 2000 notes will be carrying a picture of Mangalyam and size of the denomination will be smaller: Shaktikanta Das

Nov 8, 2016 9:24 pm (IST)

 RBI will also be releasing new NOTES 10th November onwards: Shaktikanta Das

Nov 8, 2016 9:22 pm (IST)

We have increased our production and are trying to provide new currency notes as soon as possible: RBI Governor Urjit Patel

Nov 8, 2016 9:21 pm (IST)

A very bold move by the government. There have been reports that these currencies are being used by the terrorist agencies. This is a very powerful measure taken by the govt. The fake Indian currency and black money fuel inflation: Shaktikanta Das

Nov 8, 2016 9:20 pm (IST)
Nov 8, 2016 9:19 pm (IST)

RBI has been concerned about the growing menace of fake indian note: RBI Governor Urjit Patel

Nov 8, 2016 9:17 pm (IST)

Those holding untaxed assets, income despite opportunity to declare will suffer; such move was necessary: SIT (#BlackMoney ) Chairman. PTI

Nov 8, 2016 9:15 pm (IST)
Nov 8, 2016 8:59 pm (IST)

 ATMS will limit money to Rs 2,000 a day initially: PM Modi

Nov 8, 2016 8:48 pm (IST)

Media Briefing by RBI Governor Urjit Patel and Secy. Department of Economic Affairs Shri Shaktikanta Das, at 9:00 PM

Nov 8, 2016 8:48 pm (IST)

 We want to take this fight against corruption ahead. Wish to thank all: PM Narendra Modi to the nation

Nov 8, 2016 8:42 pm (IST)

Lets continue the process of cleanliness and work together for successful completion of this initiative: PM Narendra Modi

Nov 8, 2016 8:39 pm (IST)

Medicines can be purchased with Rs 500, Rs 1000 notes for the next 72 hours: PM Modi

Nov 8, 2016 8:38 pm (IST)

Those unable to deposit #Rs1000, #Rs500 notes by Dec 30 for some reason, can change them till March 31, 2017 by furnishing ID proof: PM Modi

Nov 8, 2016 8:37 pm (IST)
Nov 8, 2016 8:36 pm (IST)

Notes of Rs 2000 and Rs 500 will be circulated soon, RBI has decided to limit the notes with higher value: PM Narendra Modi

Nov 8, 2016 8:35 pm (IST)

On November 9, all banks will remain closed for public work: PM Narendra Modi

Nov 8, 2016 8:34 pm (IST)

There will be no change in any other form of currency exchange be it cheque, DD, payment via credit or debit cards etc: PM Narendra Modi

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War on Black Money | Move to Scrap Rs 1,000 and Rs 500 Notes Will Help in Long Run, Says RBI
PM Modi addresses the nation on Tuesday evening.

Modi says the citizens’ money will be safe as they can deposit the notes in the bank before December 30, 2016.

“People can deposit notes of Rs 1,000 and Rs 500 in their banks from November 10 till December 30, 2016,” says PM.

All other coins and notes to be continued.

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