The big news: How the Rs 500, Rs 1,000 note demonetisation will affect you.
Very very important and good announcement by Prime Minister Narendra Modi, addressing the country tonight, announced that Rs. 500 and Rs. 1000 notes will not be used from midnight onwards. The Rs. 500 and Rs. 1000 notes must be deposited at post offices and banks by the end of December, the PM said, adding the move was essential to fight “the disease of black money.
Important points you need to note:
If you have 500 and 1000 notes, Deposit it your near post office or bank before December 31.
On November 9 and in some places on November 10, ATMs will not work.
Exchange only your money in your hand,If any one gives and ask you to exchange it bank or post office dont take it.
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
Petrol pumps and retail outlets will have to keep every single entry of cash transaction with 500 and 1000 notes till November 11.
Respite for people for the initial 72 hours, government hospitals will accept old Rs. 500 and 1000 notes till 11 November midnight.
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.
1.25 lakh crores of black money has been recovered.