Prime minister Narendra Modi addressed the nation today evening and has declared old₹500 and ₹1000 rupee notes invalid from 8th November midnight.
This declaration means that old ₹500 and ₹ 1000 notes won’t be the legal Indian currencies. From 10th November when banks will open, Customers will be garlanded with new currency notes of ₹500& ₹1000.
This step has been taken by the government to outwit and defeat the menace of black money and to stop the rising threat of funding to terrorists through fake currencies. RBI governor Mr. Patel and finance Secretary of India jointly addressed a press conference and cleared the scene hence after.
Govt has said that many illegal media of fake currencies has prospered. Drug manufacturing, Terrorist funding, Fake currencies usage have increased.
Though the decision is full of optimism and support, Its proper execution in coming days is a big challenge for the government. As the Govt has fixed a cap on daily transactions for next 50 days, it is supposed to result in facing huge problems before business, firms, industries and people.
For Indians holding original and valid notes, there is no need to panic as Govt has offered 50 days to get their old notes exchanged in Banks, Post offices, and sub-post offices.
Considering the urgent need of the money, Govt has allowed that for next two days old notes can be paid at Hospitals, railway stations, and Bus stations.
As Govt has issued the directories following steps should be kept in the mind:
1. As many people have the black money and are having illegal notes, they would approach you to get their fake currencies exchanged at the Bank. Please be vigilant and don’t accept any such proposal as the Banks where you would go to exchange money, have CCTV camera installed.
2. For your kind information, Be noted that notes of ₹ 100, ₹50, ₹20, ₹10, ₹5 and ₹1 notes would be valid.
As the process would be enacted in coming one-two days, many difficulties would arise for small traders, people, farmers, daily commuters and others but considering the importance of the decisions imposed, I urge all Indians to support the government’s decisions. This decision would result in great outcomes in days ahead.
New notes would be very different from the old notes.
₹500 notes would be having RED FORT printed on the back side of the note.
₹2000 note would be having ‘Mangalyaan’ printed on the back side of the note. Have a look
The decision taken by the government is unanimously a very big one to curb black money flaunting and stop illegal practices. Yes obviously some difficulties are going to arise before the people but let us back our honorable PM’s. announcements
Say Goodbye to Black Money !
Jai Hind !