Watch PM Narendra Modi Speech Video On Rs 500 and Rs 1000 Notes – 8th November 2016: The current notes of Rs 500 and Rs 1000 will no longer be valid from November 8 midnight, Prime Minister Narendra Modi announced in a televised address to the nation. Instead, notes of Rs 2000 and a newly designed Rs 500 are being introduced.
PM Narendra Modi Speech Video On Rs 500 and Rs 1000 Notes
– From midnight, notes of Rs 500 and Rs 1000 will cease to be legal tender.
– Citizens will have 50 days — between November 10 and December 30 — to give in notes of Rs 1000 and 500 at post offices and banks.
– Those unable to submit all their old currency notes within the deadline, will be able to do so at the Reserve Bank of India up till March 31, 2017 by providing a declaration.
– ATMs will not function on November 9, and on November 10 in some places.
Prime Minister Narendra Modi announced that he would be addressing the nation at 8 PM on Tuesday. The announcement on Monday evening 7:40 PM. The address was unplanned and not scheduled. Media fraternity was taken by surprise over Prime Minister’s sudden decision to address the nation. Earlier in the day, Modi met all three chiefs of the Indian army to discuss the situation in Kashmir. Modi is also scheduled to meet President Pranab Mukherjee, barely 30 minutes after the meeting. Stay tuned with India.com with all the live updated from the speeck of PM Narendra Modi.
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