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GOVERNMENT DEPRECATED NOTES OF RS. 1000 AND RS. 500 WITH IMMEDIATE EFFECT

GOVERNMENT DEPRECATED NOTES OF RS. 1000 AND RS. 500 WITH IMMEDIATE EFFECT

GOVERNMENT DEPRECATED NOTES OF RS. 1000 AND RS. 500 WITH IMMEDIATE EFFECT

NEW Delhi : ATMs are flooded by the people for withdrawing the money of any denomination except 1000 and 500. Daily limit for the ATM withdrawal would be Rupees Two thousand only for next few days since all the banks will be closed on 9th November 2016

Prime Minister Narendra Modi addressed the nation and made an announcement of few bold steps for minimizing the level of corruption in India. For implementing these measures the first step would be deprecating the currency notes for INR 500 and 1000 denomination from the midnight of 8th  November 2016.

These notes can be deposited to Post offices or banks and initially there would be a limit for withdrawal from Bank would be Ten thousand within a day and twenty thousand rupees in a month.

In a bid to curb the black money from the economy of India. India step down to the 76th position in the ranking of corruption in the world.

He added, ”Our government is dedicated to provide a stable platform to the common and poor people of India. This government is aimed at securing the income of Farmers and poor artisans. There has been an enormous positive response came from the suppressed section of the society. Few people minted the money using the false means of corruption which has rotten the economy of India. ”