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Blog Entry# 2053302
Posted: Nov 08 2016 (21:13)

22 Responses
Last Response: Nov 09 2016 (15:47)
Rail News
Commentary/Human Interest
Nov 08 2016 (21:02)   Rs 500, Rs 1,000 notes will not be legal tender starting November 9, says Narendra Modi

Solo™^~   261 news posts
Entry# 2053302   News Entry# 285166         Tags   Past Edits
Rs 500, Rs 1,000 notes will not be legal tender starting November 9, says Narendra Modi
by Scroll Staff
Published 41 minutes ago. Updated 10 minutes ago.
ATMs will not work on November 9 and November 10 in parts of the country, the prime minister said.
500, Rs 1,000 notes will not be legal tender starting November 9, says Narendra Modi
Image credit: PTI
Prime Minister Narendra Modi, in an unexpected address to the nation on Tuesday, said that the country was doing away with Rs 500 and Rs 1,000 notes in an effort to weed out corruption, black money and in turn poverty and terrorism. Modi said that the government believes the time has come to "take a strong decision" on tackling these problems, suggesting that counterfeit notes from across the border were being used to fund terrorism in India.
How this will affect you:
Starting midnight on November 8, Rs 500 and Rs 1,000 notes will no longer be legal tender. Other currency notes – Rs 100, Rs 50, Rs 20 and Rs 10 – are still valid, as are all coins. However, all cashless transactions, such as cheques, cards and demand drafts, will continue as usual.
ATMs across the country will be closed on November 9, and they will not function in parts of the country on November 10, the prime minister said. Banks will remain closed on November 9.
How you can exchange your notes:
The Rs 500 and Rs 1,000 notes can be submitted to post offices and banks from November 10 till December 30 with an valid ID card such as a passport, PAN card or Aadhaar card. Those who are unable to exchange their notes by December 30 will be allowed to declare them with the Reserve Bank of India till March 31. There will be a cap of Rs 20,000 on the amount of money that can be exchanged in a week and Rs 10,000 in a day. Tourists can change these notes at airports.
The exceptions:
A number of exceptions have been made at places of particular importance, where the Rs 500 and Rs 1,000 notes will be accepted for an additional 72 hours, that is till midnight on November 11. This includes hospitals, railway ticket booking counters, government bus stands, and airports.
What's next:
New notes of Rs 2,000 and Rs 500 will be circulated soon, Modi said, though these will have limited circulation.
In the past:
Indian governments have demonetised currency notes in the past as well. According to the RBI, Rs 1,000 and Rs 10,000 banknotes were demonetised in January 1946. Banknotes for Rs 1,000, Rs 5,000 and Rs 10,000 were reintroduced in 1954. Rs 1,000, Rs 5,000 and Rs 10,000 were demonetised again in January 1978.

13 posts - Tue Nov 08, 2016

4 posts - Wed Nov 09, 2016

Nov 09 2016 (14:07)
विश्व नाथ*   16776 blog posts   268 correct pred (76% accurate)
Re# 2053302-19            Tags   Past Edits
पहले से नहीं कल रात से हुआ है.
सारी फंडिंग गई

bhai wo hati hai uskae khane kae dant or dikhane kae or hai Mujhe kahin miljae to itana jordar dhile hath ka jhapad marunga ki uski saat puste yad rakhe gi

Nov 09 2016 (14:59)
JBP ET OHE OMG 😲~   15638 blog posts   22 correct pred (43% accurate)
Re# 2053302-21            Tags   Past Edits
Khi mlne ki jrurat kha abi thand me alav me sath sekta ml jyga
Tb dhrna usko
Aag ki aur jhapad ki garmi se akl thikane aa jygi

Nov 09 2016 (15:07)
Venkat వెంకట్   3380 blog posts   1 correct pred (100% accurate)
Re# 2053302-22            Tags   Past Edits
Money in kitchen storage also comes out now :)
A surprise element to many husbands :)

Nov 09 2016 (15:47)
OM SAI RAM ਆਦਿਤਯ ਕੁਮਾਰ~   2128 blog posts   352 correct pred (61% accurate)
Re# 2053302-23            Tags   Past Edits
sahi kaha bhai modi nei desh ka hi nahi hum husbands ka bhi bhala kar diya. JAI HO MODI

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