Rs 500 and 1000 currency notes stand abolished from midnight: PM Modi

NEW DELHI:  Prime Minister Narendra Modi is addressing the country tonight, delivering a speech first in Hindi and then English.
The PM met a few hours ago with all three military chiefs amid major ceasefire violations by Pakistan in Jammu and Kashmir.

Live updates:

8:30 pm: There is no restrictions on internet banking, cash, demand draft transactions.

8:27 pm: Rs 10,000 daily cash withdrawal and Rs 20,000 weekly cash withdrawal limit

8:25 pm: There are, however, some exemptions. Government hospitals,

8:22 pm: The ATMs will not function till November 9, and in some places till November 10.

8:21 pm: People who possess Rs.500 or Rs. 1000 currency notes after December 30 can exchange it at Reserve Bank of India by providing a declaration. This is till March 31, 2017.

8:20 pm: These notes should be exchanged in banks and head post offices and sub post office within December 30, 2016, by providing a valid identity proof such as Aadhaar, PAN card or voter ID card.

8:15 pm: From midnight of November 8, 2016, Rs. 500 and Rs.1000 will cease to be legal tender. “These notes are just papers from tomorrow,” says the prime minister.

8:11 pm: Prime Minister says Rs. 500 and Rs.1000 are notes are mostly used in black money.

8:10 pm: Corruption, black money and terrorism can come in the way of a country’s robust economic growth, says the Prime Minister.

8:07 pm: He moves on from corruption to terrorism. He tells “terrorsists from across the border” are spreading counterfeit currency notes.

8:06 pm: We hear stories of how autorickshaw driver returns gold left by a passenger in his vehicle. These stories tell how common people are honest. It is only a few people engage in corruption for selfish reasons, he says.

8:05 pm: Corruption and black money are the biggest hindrances in the fight against poverty, he says adding that it is everyone’s responsibility to eradicate poverty.

8:04 pm: Mr. Modi lists out the various schemes launched by NDA government in his address to the nation. He mentions the Jan Dhan Yojana.

8:03 pm: This govt is dedicated to the poor, and will continue to do so, says the Prime Minister who completes two-and-a-half years of rule today.

8:02 pm: India has registered itself as a bright spot, and its not that this is a claim made by us, but by IMF and World Bank

8:01 pm: When we were elected in 2014, there was a discussion that among BRICS nations, the ‘I’ was wobbling, says the PM.

8:00 pm: The Prime Minister’s address to the nation has begun.

Here are the highlights from his address:

  • Some important decisions and some serious issues to share.
  • When you elected this government in 2014, world was talking about India being shaky economically. But India is now an economic star – this is what IMF and World Bank are saying.
  • Sab ka sarkaar, sab ka vikas – governance and progress for all is our motto. We are focused on empowerment of the poor. A series of schemes we have introduced all aim at this. This is a government for our farmers.
  • Corruption and black money are diseases rooted in this country, they are obstacles to our success.
  • We are among fastest-growing economies, but we also rank so high in global corruption rankings.
  • Terror strikes at the innocent. Who funds these terrorists? Across the border, our enemy uses fake currency and dodgy funds to sponsor terror – this has been proven repeatedly.
  • Terror strikes at the innocent. Who funds these terrorists? Across the border, our enemy uses fake currency and dodgy funds to sponsor terror – this has been proven repeatedly.
  • Our measures to check black money are paying off. A voluntary disclosure scheme for undeclared money saw a good response. A Special Investigating Team is making progress to identify who has sent money abroad.
  • 1.25 lakh crores of black money has been recovered.
  • We need to take a new solid step to fight black money. From now on, Rs. 500 and Rs. 1000  notes will not be used. Have 50 days to turn them into banks and post offices.
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One thought on “Rs 500 and 1000 currency notes stand abolished from midnight: PM Modi

  • November 8, 2016 at 9:21 pm
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    Heloo Modi sir , aapne ne toh bhuat asani se bol diya ki 500, 1000 k note bnd ho gye frm midnight but mai aapse puchna chahta hu ki mere paas abi jebb me 16000 rupees pade h . . sb 500 500 k note h . .. Ab in sb note ka kya karu . . . aapne toh sirf corruption ka socha . . . haan sahi h aapne yeh kadam uthaya but yeh b ni socha ki jo log mehat se paise ikhta krte h unka kya hoga , kahan jayenge hum ab ,…… Aapne toh muje tnsn dedi . . . bcz abi raat ko knsa bank khula hoga jahan apne paise deposit kroun . . . . pvt. Job h meri . . ek din chutti marunga toh uska paise ni milta . . . ab muje 500 rs ki jarroart h toh atm se mai nikalne jounga toh tb kya niklega atm se??? . . . jara aap muje is qstn ka answer de skte ho modi sir ji ?????
    Sir ji sbka socho . . corruption k ilava b log kamate h din br mehnat kr k . . . aisa kr k corruption bnd ni hoga. . . . “Think before you speak”

    Reply

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