Rs 500 and Rs 1000 now Banned in India from 8th November 2016

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Currency notes of Rs 500 and Rs 1,000 won’t be valid from midnight of 8th Novemaber 2016, PM Narendra Modi says in an address to the nation. “Currency notes of Rs 1000 and Rs 500 will be just paper with no value,” the PM says. Modi says the citizens’ money will be safe as they can deposit the notes in the bank before December 30, 2016. So the citizens who have the Rs. 500 and rs. 1000 notes, then can deposit the notes in any Bank or Post Office from 10th November 2016 to 30th December 2016. After 30th December 2016 all the old Rs 500 and Rs 1000 notes will be considered as just a piece of paper with no value.

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“People can deposit notes of Rs 1,000 and Rs 500 in their banks from November 10 till December 30, 2016,” says PM. All other coins and notes to be continued. This is known as “Surgical Strike Against Black Money” in General. But the Rs.500 and Rs.1000 will be accepted at Railway Station, Airport and Medicine Shops till 11th November 2016.

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