Prime Minister Narendra Modi on Tuesday in a surprise announcement said that Rs. 500 and Rs. 1,000 notes would be withdrawn from Tuesday-Wednesday midnight as part of a crackdown on black money. "Black money and corruption are the biggest obstacles in eradicating poverty," PM Modi said in an address to the nation.
Here are 10 things to know:
* 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.
* On November 9 and in some places on November 10, ATMs will not work. In the first few days, there will be a limit of Rs. 2,000 per day per card.
* New Rs. 500 and Rs. 2,000 denomination notes will be introduced later.
* Those unable to deposit their notes of Rs. 1000 and Rs. 500 notes by December 30 can change the notes till March 31, 2017 by furnishing ID proof.
* This is bold and powerful move by the government to fight black money, said Economic Affairs Secretary Shaktikanta Das.
* Mr Das also said that the move will stop the use of fake currency notes for terror financing.
* The RBI will issue new currency notes from November 10.
* Banks will remain closed tomorrow.
* For 72 hours, government hospitals will continue to accept old Rs. 500 and Rs. 1,000 notes for payment.
* For 72 hours, railway booking counters, petrol pumps, government buses and airlines will accept the old notes for purchase of tickets.
Here are 10 things to know:
* 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.
* On November 9 and in some places on November 10, ATMs will not work. In the first few days, there will be a limit of Rs. 2,000 per day per card.
* New Rs. 500 and Rs. 2,000 denomination notes will be introduced later.
* Those unable to deposit their notes of Rs. 1000 and Rs. 500 notes by December 30 can change the notes till March 31, 2017 by furnishing ID proof.
* This is bold and powerful move by the government to fight black money, said Economic Affairs Secretary Shaktikanta Das.
* Mr Das also said that the move will stop the use of fake currency notes for terror financing.
* The RBI will issue new currency notes from November 10.
* Banks will remain closed tomorrow.
* For 72 hours, government hospitals will continue to accept old Rs. 500 and Rs. 1,000 notes for payment.
* For 72 hours, railway booking counters, petrol pumps, government buses and airlines will accept the old notes for purchase of tickets.
No comments:
Post a Comment