Home / Indian Government / PM Narendra Modi Announces Abolition of Rs.500 And Rs.1000 Notes

PM Narendra Modi Announces Abolition of Rs.500 And Rs.1000 Notes

Prime Minister Narendra Modi Has Taken a Major and historical step to fight against black money and he announced on November 8, 2016 Tuesday that after midnight The 500 and 1000 Rupee Notes will be will not be in effect. They will remain as useless paper. This action will also help to encounter the problem of fake currency and the agents corrupting Indian Economy. Modi directed the People who are holding 500 and 1000 Rupee Notes can deposit their notes to the banks from November 10, 2016 to December 30, 2016.

Modi declared that these notes will not be treated as legal tender from 12 am. He also said these notes will remain as worthless piece of paper from midnight. He also mentioned that all the other notes including  Rs.10, Rs.20, Rs.50, Rs. 100 and Notes and Coins Of Rs.1, Rs.2 and Rs. 5 will be valid for any transactions. New notes of Rs.500 and Rs.2000 will soon be introduced as said by PM Modi.

He also added that People may suffer some difficulties these days to cooperate with this change. But a little discomfort will give them a better Nation with No black Money No Corruption. All the Government and private banks will be closed tomorrow and people may face difficulties. For the sake of the people who are in need of medical treatment can pay money with their 500 and 1000 rupee notes and It will also be applicable for the Ticket counters of Railway and Airlines.

He also demanded People’s patience and cooperation to fight against this disease of corruptions and black money. He said that everybody knows how an honest citizen face difficulties in dealing with his daily routines in corrupt India and how black money is used during elections. A specific group of people have taken this corrupt system as their lifestyle. Now every money will be declared and people with black money will be in trouble. They will not be able to spend any money they have with them. Modi government is taking every actions to develop and uplift the poor people of the nation.

After this announcement was heard by the people there is large crowd around the ATMs to withdraw Rs.100 Notes as not to face difficulties in these days. They are trying to put their transactions amount to Rs.400 not to receive any Rs.500 not unfortunately. These was a great actions by Modi Government After Surgical Strike. This is said as Surgical Strike on Black Money. Baba Ramdev is trying to take credit for this Idea to Fight Against corruption.

PM Narendra modi announced all these things in his 1 Hour Long Speech. Which is a must watch because how he stated every aspects of these actions is really an eye-opening. People have many expectations from Modi. It was a big challenge to fulfill all the promises made by him at the time of elections. The Year 2016 was of achievements for the MODI Sarkar as many successful actions were taken. We hope this action will also be successful as others.

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Ajay Boudh is a Blogger and Web Developer. He is now providing all Government Job Alerts across India.

One comment

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