Deepak Gupta | Nov 8, 2016 |

Rs 500, 1000 notes to be void from midnight : PM Narendra Modi

Main points from PM Modi’s speech:
1. Rs 2000 denomination notes to be introduced
2. Those unable to deposit Rs 1000, Rs 500 notes by Dec 30 for some reason, can change them till March 31, 2017 by furnishing ID proof
3. People can deposit notes of Rs 1000 and Rs 500 in their banks from November 10 till December 30, 2016

4. Currency notes of Rs 1000 and Rs 500 will be just paper with no value.

5. On one hand we are number one in economic growth but on other hand we are ranked close to 100 in global corruption perception ranking
500-1000-notes-cease-to-be-legal-tender

6 In the last two and half years, we have recovered Rs one lakh 20,000 crore rupees of black money

7. Banks will remain closed on 9th November
8. All banks and post offices will remain shut tomorrow
9. Some ATMs will not work on November 9 and 10
10. Cashless fund transfer won’t be affected by this

11. Respite for people for the initial 72 hours, Govt hospitals will accept old Rs 500 and 1000 notes till 11 November midnight

12. Some medical facilities will be exempted from this for the time being

13. Rs 20,000 weekly cap on exchange of Rs 500 & Rs 1,000 notes

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Rs 500, 1000 notes to be void from midnight : PM Narendra Modi

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