500, 1000RS Notes cease to be legal tender from midnight today: PM Narendra Modi

If you are a browsing news channel for US election result then you are missing one of the biggest breaking news of 2016 from India.

This is bigger then US election 2016.

PM Narendra Modi has announced that From midnight 9th Nov 500RS and 1000Rs old  paper currency will be discontinued.

500 and 1000 rs notes will be closed from tonight

Now both notes will be no more legal tender.

Master stroke by NaMo, not disclosed to any other government agency so that no one can prepare for this step.

As this announcement made , the government also has to do some background work.

All the ATM will be closed from 9th Nov to 10th Nov.

Do not panic. This is not to torture public. This is to do all necessary work related this important steps.

In this two days, all the devalued note will be removed fro the ATM machine. After removing all valid small denomination value notes will be loaded like INR 100,INR 50, INR20 etc.

Surgical Strikes by NaMo against Black money

What about Medical emergency?

For next 72 hours following government, service will accept old 500 and 1000 notes for payment.

  • All Government hospitals
  • Railway ticket booking counter
  • Government Bus booking counter
  • Airline ticket counter at the airport.

Other places where old 500 and 1000 Rs notes will be accepted?

For next 72 hours at following places old 500 and 1000Rs notes will be accepted.
  • Petrol, Diesel & Gas stations authorised by public sector oil companies
  • Consumer co-operative stores authorised by State or Central Government
  • Milk booths authorised by State governments
  • Crematoria and Burial ground

What to do if you have INR 500 and 1000 currency note?

From 10th November to 30th December one can deposit old note and exchange it with the new one.

Old currency exchange, but where it can be done.

  • In all Bank
  • All Post office

All Bank and ATM will be closed on 9th and 10th Nov

What a great step to dig out black money.

Till what time we can exchange old notes?

If you have this note don’t worry, PM has given 50 days from 9th Nov 2016 to exchange this money .

You can exchange till 30th Dec 2016 with bank, Post office .

In some case, if you forgot or unable to exchange the old notes till 30th Dec 2016, then what?

PM says that one can exchange old notes at Mentioned RBI office with Declaring the amount is belongs to you. Deadline would be March 2017

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