In a first-rate step to test black money, high Minister Narendra Modi on Tuesday introduced demonetization of Rs 500 and 1000 currency notes with effect from midnight, making these notes invalid in a primary assault on black cash, faux forex, and corruption. In his televised deal with to the country, Modi said people retaining notes of Rs 500 and Rs a thousand can deposit the equal of their financial institution and submit office money owed from November 10 until December 30.
Modi said the notes of Rs 500 and Rs 1000 “will now not be criminal gentle from nighttime tonight” and those will be “simply nugatory piece of paper.” however, he stated that everyone notes in lower denomination of Rs one hundred, Rs 50, Rs 20, Rs 10, Rs five, Rs 2 and Re 1 and all coins will remain valid. He also announced that new notes of Rs 2000 and Rs 500 will be introduced.
Modi introduced that there might be no exchange in every other form of forex be it cheque, DD, fee thru credit or debit cards and so on.
The study also: Demonetising Rs 500, 1000 notes a very ambitious step to combat black money: RBI
He stated the authorities has been preventing the risk of black money and corruption ever because it assumed energy years ago. He additionally advised humans to help the government in its fight against faux foreign money and black money.
The top minister expressed self-assurance that the group of workers of banks and put up places of work will rise to the event to introduce the new order within the available time. He said he's hopeful that political parties, workers, social businesses and the media will move further than the authorities in making it a success.
the study also: Rs 500 and Rs one thousand notes demolished: here’s what to do with antique notes
“Banks may be closed the next day. it'll motive some problem to you….let us forget about those hardships… In united states' records, there comes a moment whilst human beings will need to participate in the state constructing and reconstruction. very few such moments are available in existence,” Modi stated.
The top minister stated the measures were geared toward curbing the “sickness” of corruption and black money which have taken deep root. “there is a need for a decisive battle against the risk of corruption, black money, and terrorism… Corruption, black money, and terrorism are festering wounds which make us of a hole from the inside,” he stated.
Following the statement, there were huge crowds outdoor ATMs across the united states as humans lined up to withdraw currency of smaller denominations.
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Modi said the notes of Rs 500 and Rs 1000 “will now not be criminal gentle from nighttime tonight” and those will be “simply nugatory piece of paper.” however, he stated that everyone notes in lower denomination of Rs one hundred, Rs 50, Rs 20, Rs 10, Rs five, Rs 2 and Re 1 and all coins will remain valid. He also announced that new notes of Rs 2000 and Rs 500 will be introduced.
Modi introduced that there might be no exchange in every other form of forex be it cheque, DD, fee thru credit or debit cards and so on.
The study also: Demonetising Rs 500, 1000 notes a very ambitious step to combat black money: RBI
He stated the authorities has been preventing the risk of black money and corruption ever because it assumed energy years ago. He additionally advised humans to help the government in its fight against faux foreign money and black money.
The top minister expressed self-assurance that the group of workers of banks and put up places of work will rise to the event to introduce the new order within the available time. He said he's hopeful that political parties, workers, social businesses and the media will move further than the authorities in making it a success.
the study also: Rs 500 and Rs one thousand notes demolished: here’s what to do with antique notes
“Banks may be closed the next day. it'll motive some problem to you….let us forget about those hardships… In united states' records, there comes a moment whilst human beings will need to participate in the state constructing and reconstruction. very few such moments are available in existence,” Modi stated.
The top minister stated the measures were geared toward curbing the “sickness” of corruption and black money which have taken deep root. “there is a need for a decisive battle against the risk of corruption, black money, and terrorism… Corruption, black money, and terrorism are festering wounds which make us of a hole from the inside,” he stated.
Following the statement, there were huge crowds outdoor ATMs across the united states as humans lined up to withdraw currency of smaller denominations.
SHARE THE INFORMATION
