Removal of 1000 and 500 Notes by Indian Government

Removal of 1000 and 500 Notes by Indian Government

Today Prime Minister of India MR. NARENDER MODI declared 500 and 1000 rupee notes to be removed from India as declared by PM today and instead of it only new 500 and 2000 rupees notes will be made available. Bank Holiday is declared tomorrow and notes are declared as invalid from today midnight as Declared by Prime Minister MR. NARENDER MODI today.

Only 20000 Rupees will be allowed to be exchanged per week and only 2000 per day ATM withdrawal will be made available by 11 Nov, 2016. No withdrawal from ATM, BANKS will be available tomorrow and All notes of 500 and 1000 will be invalid. This is a big decision as tomorrow there will be no withdrawals deposits or transactions of cash tomorrow, also every body will fear to do transactions as currency will be invalid tomorrow.

Decision is Taken by PM to stop Black market and Funding for Terrorism.

Notes can be exchanged in post offices aswell as declared by Government.

Opposition and all parties have welcomed the decision and the decision is applied successfully. 

Currency notes of upto 100 will also will be removed and only coins will be made available.

Government also declared from 25 November withdrawal from ATM will up to 4000 rupees allowed.



RBI Governor said that counterfiet note and genuine note looks same to public as fake notes currently launched also include security features. Other officials declared that this is bold and correct decision to stop pakistan and terrorists acting in fake note supply.

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