Rs 500 and 1000 currency notes stand abolished from midnight: PM Narendra Modi
Indian government believes that by taking this decision we can hit black markets down and you would be least circulation of black money and fraud would not take place.Well Indian finance is sure going to face chaos by the demoing plans of our beloved Prime Minister Narendra Modi. So, most of you might be wondering what more topics have been discussed and stated during this speech. So I have posted all of them below. Banks will be closed tomorrow. It will cause some hardship to you..Let us ignore these hardships..In country’s history, there comes a moment when people will want to participate in the nation building and reconstruction. Live update of PM Narendra Modi’s address to the Nation. Corruption, terrorism, black money weakening the nation. Stay with us for the latest news and live updates from PM Modi’s speech. We are focused on empowerment of the poor. A series of schemes we have introduced all aim at this. This is a government for our farmers. Corruption and black money are diseases rooted in this country, they are obstacles to our success.
Watch PM Modi’s Entire Speech balek many
Prime Minister Narendra Modi has called an emergency address speech, where he revealed to the country that 500 and 100 rupee notes are to be discontinued from midnight today. All those people who are worrying what to do with the stacks of 500 and 1000 notes, need not to glaze and run punching on the government. Because they have released a statement saying that all the remaining 500 and 1000 rupees notes are to be deposited at neat by Post Offices. This decision has been made by the present government under the PM who says, IMF and World Bank states India is an economic star now. Those unable to deposit Rs 1000 and Rs 500 notes till December 30 this year can do so in designated RBI offices till March 31 next year after filling a declaration form along with proof and reasons, the Prime Minister said.
Live Updates of PM Narendra Modi Speech – Rs 500, 1000 currency notes Banned, New 2000 Note to be introduced, ATM & banks closed tomorrow
Sab ka sarkaar, sab ka vikas – governance and progress for all is our motto. Every citizen will be allowed to withdraw 10,000 Rupees from Bank or ATM per day and 30,000 per week which seems to be less. This ban on notes can be major stroke on Indian economy but we will, have to wait and watch how it turns out to be.
Congress ‘Will support any step against black money’
We are among fastest-growing economies, but we also rank so high in global corruption rankings.Terror strikes at the innocent. Terror strikes at the innocent. Who funds these terrorists? Across the border, our enemy uses fake currency and dodgy funds to sponsor terror – this has been proven repeatedly. Commoners over social media networks like Facebook and Twitter has started trolling the decision made by Indian government Prime Minister Narendra Modi. This issue might seem going easy but would turn into a chaos if government takes no necessary steps to circulate money correctly.
Demonetisation of Rs. 500 and Rs. 1000 notes: RBI explains
In a major step to check black money, Prime Minister Narendra Modi on Tuesday announced demonetization of Rs 500 and 1000 currency notes with effect from midnight, making these notes invalid in a major assault on black money, fake currency and corruption. In his televised address to the nation, Modi said people holding notes of Rs 500 and Rs 1000 can deposit the same in their bank and post office accounts from November 10 till December 30.
Read: Are banks equipped to replace 2,300 crore pieces of Rs 500 and Rs 1,000 notes. However, he said that all notes in lower denomination of Rs 100, Rs 50, Rs 20, Rs 10, Rs 5, Rs 2 and Re 1 and all coins will continue to be valid. He also announced that new notes of Rs 2000 and Rs 500 will be introduced.
Rs 500 and Rs 1000 notes demolished: Here’s what to do with old notes
The prime minister expressed confidence that the staff of banks and post offices will rise to the occasion to introduce the new order within the available time. He said he is hopeful that political parties, workers, social organisations and the media will go further than the government in making it a success.
Amit Shah says ‘fight against blackmoney will continue’
Banks will be closed tomorrow. It will cause some hardship to you….Let us ignore these hardships… In country’s history, there comes a moment when people will want to participate in the nation building and reconstruction. Very few such moments come in life,” Modi said.
Congress ‘Will support any step against black money
The prime minister said the measures were aimed at curbing the “disease” of corruption and black money which have taken deep root. “There is a need for a decisive war against the menace of corruption, black money and terrorism… Corruption, black money and terrorism are festering wounds which make the country hollow from within,” he said. We are among fastest-growing economies, but we also rank so high in global corruption rankings. Terror strikes at the innocent. A Special Investigating Team is making progress to identify who has sent money abroad. There will be no change in any other form of currency exchange be it cheque, DD, payment via credit or debit cards etc. Those unable to deposit Rs. 1000, Rs. 500 notes by December 30 for some reason, can change them till March 31, 2017 by furnishing ID proof
Bank are saying.
We are among fastest-growing economies, but we also rank so high in global corruption rankings.Our measures to check black money are paying off. A voluntary disclosure scheme for undeclared money saw a good response. A Special Investigating Team is making progress to identify who has sent money abroad.
Are banks equipped to replace 2,300 crore pieces of Rs 500 and Rs 1,000 notes?
There will be no change in any other form of currency exchange be it cheque, DD, payment via credit or debit cards et The announcement on Monday evening 7:40 PM. The address was unplanned and not scheduled. Media fraternity was taken by surprise over Prime Minister’s sudden decision to address the nation. Earlier in the day, Modi met all three chiefs of the Indian army to discuss the situation in Kashmir. Modi is also scheduled to meet President Pranab Mukherjee, barely 30 minutes after the meeting.
Congress ‘Will support any step against black money’
Earlier in the day, Modi met all the three chiefs of Indian Army – Gen Suhag, Gen Lanba (Navy) and Arup Raha (Indian Air Force). The meeting was focused around Kashmir and the threat posed by Pakistan through cross-border terror. Media sources are firm that the sudden address by Modi is related to national security. However, no confirmation has been made so far. No indication has been made regarding the reason for the sudden address. He assured the nation that the notes of Rs 100, 50, 10 and coins of all denominations will remain legal tender and will not be affected and that “this step will strengthen the hands of the common man in the fight against black money. He expressed confidence that the staff of banks and post offices will rise to the occasion to introduce the new order within the available time. He also expressed confidence that political parties, workers, social organisations and the media will go further than the government in making it a success. Besides depositing money in bank accounts, the Rs 500 and Rs 1000 notes can also be exchanged with lower denomination currency notes at designated banks and post offices on production of valid government identity cards like PAN, Aadhaar and Election Card from November 10 to November 24 with a daily limit of Rs 4000.