From 9th November 2016, 500 and 1000 rupees notes will be redundant.
The Modi (read Mode-I, which rhymes with Jedi) government took a huge step with discontinuing the 500 and 1000 rupees notes and caused a great panic to all the Darth Vaders of black money.
“These notes are just worthless pieces of paper from tomorrow”
– PM Narendra Modi.
All the black money holders were given a time period till September 30 to submit all the black money and now it’s time for the strike!
All the 500 and 1000 rupees notes will be invalid from 00:00 hours on 9th November 2016. The old notes can be exchanged in the banks and post offices till 30th of December. ATMs and some banks will be closed for tomorrow. PM Modi also announced new notes of 500 and 2000 rupees.
The new 500 & 2000 rupee notes look like this:
While the Black Money holders should be dead with fright by now, the honest common man need not be afraid. For the initial 72 hours, Government hospitals will accept old Rs 500 and 1000 notes i.e. till 11th November midnight. Travelers are also exempted from this scheme till 10th November. Also there are no restrictions on the non-cash transactions.
All you need to do now is get the 500 and 1000 rupees notes exchanged from banks and post offices till December 30th. The limit for that exchange is 4000 rupees till November 24. I would like to conclude this article in the words of Shri. Rajnikanth.
Kyu, Heela dala na?
Latest posts by Campus Times Team (see all)
- Ajeenkya D.Y. Patil International Conference On The Future of Storytelling 2019 : Here’s Why You Should Attend It | 14th – 15th March - March 11, 2019
- 5 Reasons To Be Excited For MIT-WPU TechnoCon – Lakshya 2019 | 8th – 9th March - March 5, 2019
- Infinity 2019 : Ness Wadia College Of Commerce Celebrates 50 Years | 31st Jan – 2nd Feb - February 1, 2019