your note will be your ,Modi’s address to the nation on black money & corruption

1000-rsMajor moves has announced by PM Narendra Modi to end the black money and corruption from the country.
During addressing at 8 PM Tuesday ,8 Nov ,Modi has announced that the existing 500 RS and 1000 RS notes
will be illegal to use or no longer available in market.
It is a historical steps which is taken Pm Naredra Modi to make sure that terrorist nations are
no loger able to take advantage of Indian currency.

It is really a big decision, Prime Minister Narendra Modi said that the Rs 500 and Rs 1,000 notes will no longer be legal from Tuesday midnight.

Modi has already announced something will happen after September as in previous speech. Now the statement are coming from public forums “Na khauga, Na Khane Dunga”.
Now it has a big problem form those people who having big amount of black money.

“You have 50 days (From 10 November to 30 December) to deposit notes of Rs 500 & Rs 1000 in any Bank or Post office. There will be no change in any other form of currency exchange be it cheque, demand draft, payment via credit or debit cards etc,” Modi said.

Though he gave a respite to people in hospitals for the initial 72 hours. “Government hospitals will accept old Rs 500 and 1000 notes until 11 November midnight,” he said. All banks will remain closed for public work on November 9.

Explaining the decision, Modi said that the process of cash circulation is directly related to corruption in our country impacting the lower classes of our society.

While addressing the nation, Modi said that India needs to get rid of corruption. He added that corruption and black money are the biggest hurdles that the country is facing. “This government is committed to bring an end to corruption. Crores of fake currency has been seized,” he said.

Modi added that RBI has decided to limit the notes with higher value and the new notes of Rs 2,000 and Rs 500 notes will be circulated soon.

Here’re the key decisions that PM announced in his speech to the nation.

> Rs 500 and 1000 notes are no more legal in India
> No other restrictions to electronic transfer or transfer through cheques or demand drafts
> 50 days from November 10 till December 30 to return notes
> New notes of Rs 500 and 2000 in the market to be issued
> ATMs will limit Rs 2000 a day initially
> The existing Rs 500 and 1000 notes can be exchanged at the banks and post offices
> Respite for people for the initial 72 hours, government hospitals will accept the old Rs 500 and 1000 notes till 11 November midnight
> All banks will remain closed for public work on November 9
> Media Briefing by RBI Governor Urjit Patel and Secy. Department of Economic Affairs Shaktikanta Das, at 9:00 pm tonight.
> Notes of Rs 2000 and Rs 500 will be circulated soon, RBI has decided to limit the notes with higher value
> Retail petrol pumps will accept such notes till November 11, after which the stations will have to keep a register of such notes for some time.