Here is the one of the big news of India. PM Modi make the India economy life shaken. Such a big decision in one night and that is Rs.500 and Rs.1000 notes banned in India latest new of November 8. Yes !!! you can’t use your Rs 500 and Rs 1000 not more in Indian markets and Physical transactions. Are you in shock !!! Don’t worry you have 50 days to deposit them in the bank. But why modi take a such decision? The main reason to remove corruption from India.
If you have 1 to 2 Lacs cash so there is not much worry for you. You can easily deposit it into bank. But if you are corrupt, you have black money in your sack full of over 1 crore your night dreams are going to spoil as you can’t deposit them into bank suddenly. I surely think you won’t one of them.
Rs 500 and Rs 1000 Notes Banned in India and New Rs 2000 & Rs 500 Notes introduce – Narendra Modi
Yes as the notes are going to banned. New notes are coming of Rs 500 and Rs.2000. So from RBI new notes are coming soon.
There will be no change in any other form of currency exchange be it cheque, DD, payment via credit or debit cards etc.
Those unable to deposit Rs 1000, Rs 500 notes by December 30 for some reason, can change them till March 31, 2017 by furnishing ID proof
Notes of Rs 2000 and Rs 500 will be circulated soon, RBI has decided to limit the notes with higher value.
ATM withdrawals will be restricted to Rs 2000 per day and withdrawals from bank accounts will be limited to Rs 10,000 a day and Rs 20,000 a week.
The government also listed some exceptions to help minimise inconvenience to the common man, like hospitals will continues to accept the big currencies for the next 72 hours. Rs 500 and Rs 1000 notes will also be valid for transactions related to booking of air tickets, railway bookings, government bus ticket counters till the midnight of November 11 and 12.
So gey ready for the nee economy war as Rs 500 & Rs 1000 notes banned in India.
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