New Dehli: Indian Government Officials have decided to ban the old currency notes of Rs. 500 and Rs. 1000 and the notification has been issued in this regard. These currency notes will be considered illegal with immediate effect from the midnight of 8th November, 2016.
Narendra Modi declared that the Rs. 500 and Rs. 1,000 denomination notes are being withdrawn from midnight. He said that such notes will become “mere paper”.
Mr. Das called the government’s decision to cancel the Rs. 500 and 1000 notes “a very bold, powerful and decisive step” to fight black money.
In this regard, there will a Bank Holiday tomorrow on Wednesday, 9th November, 2016 in India and treasury will also remain closed, the officials said.
Senior government officials and Reserve Bank of Indian chief Urijit Patel has revealed that the government has blocked the the currency motes of Rs 500 and Rs 1000, no purchase can be made through these notes right from the the midnight of November 8. And besides that new currency notes have also been printed and near to be circulated in the India.
what the new Rs. 500 and 2000 notes will look like, announcing that these will be launched on Thursday, November 10, Officials said.
RBI will issue a limited number of Rs. 500, Rs. 2000 notes from November 10, 2016, sources told.
New Rs. 500 & Rs. 2000 currency notes will come into circulation from November 10
— Doordarshan News (@DDNewsLive) November 8, 2016
— All India Radio News (@airnewsalerts) November 8, 2016