1000 And 500 Rupee Note Ban India Narendra Modi Speech

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1000 And 500 Rupee Note Ban India Narendra Modi Speech
1000 And 500 Rupee Note Ban India Narendra Modi Speech

1000 And 500 Rupee Note Ban India Narendra Modi Speech Hindi News 2016 Must watch

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.
Here are highlights from his speech:
– 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.
– ATM’s will not function on November 9, and on November 10 in some places.
– For 72 hours, until the midnight of November 11, government hospitals, government-authorized consumer stores like milk booths and ticketing counters, will continue to accept the old Rs 1000 and 500 notes.
1000 And 500 Rupee Note Ban India Narendra Modi Speech Hindi News 2016 Must watch

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1000 And 500 Rupee Note Ban India Narendra Modi Speech Hindi News 2016 Must watch

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Government of India Ministry of Finance
Department of Economic Affairs

With a view to curbing financing of terrorism through the proceeds of Fake Indian Currency Notes (FICN) and use of such funds for subversive activities such as espionage, smuggling of arms, drugs and other contraband into India, and for eliminating Black Money which casts a long shadow of parallel economy on our real economy, it has been decided to cancel the legal tender character of the High Denomination bank notes of Rs.500 and Rs.1000 denominations issued by RBI till now. This will take effect from the expiry of the 8th November, 2016.

The following operational guidelines have been issued:-

(i) Old High Denomination Bank Notes may be deposited by individuals/persons into their bank accounts and/or exchanged in bank branches or Issue Offices of RBI till the close of business hours on 30th December, 2016.

(ii) Old High Denomination Bank Notes of aggregate value of Rs.4,000/- only or below held by a person can be exchanged by him/her at any bank branch or Issue Office of Reserve Bank of India for any denomination of bank notes having legal tender character, provided a Requisition Slip as per format to be specified by RBI is presented with proof of identity and along with the Old High Denomination Bank Notes. Similar facilities will also be made available in Post Offices.

(iii) The limit of Rs.4,000/- for exchanging Old High Denomination Bank Notes at bank branches or at issue offices of Reserve Bank of India will be reviewed after 15 days and appropriate notification issued, as may be necessary.

(iv) There will not be any limit on the quantity or value of Old High Denomination Bank Notes to be credited to the account of the tenderer maintained with the bank, where the Old High Denomination Bank Notes are tendered. However, in accounts where compliance with extant Know Your Customer (KYC) norms is not complete, a maximum value of Rs.50,000/- of Old High Denomination Bank Notes can be deposited.

(v) The equivalent value of the Old High Denomination Bank Notes tendered can be credited to an account maintained by the tenderer at any bank in accordance with standard banking procedure and on production of valid proof of Identity.

(vi) regarding third party money …

(vii) Cash withdrawal from a bank account, over the counter will be restricted to Rs.10,000/- subject to an overall limit of Rs. 20,000/- in a week for the first fortnight, i.e., until the end of business hours on November 24, 2016.

(viii) There will be no restriction on the use of any non-cash method of operating the account which will include cheques, demand drafts, credit/debit cards, mobile wallets and electronic fund transfer mechanisms.

(ix) Withdrawal from ATMs would be restricted to Rs.2,000 per day per card up to November 18, 2016. The limit will be raised to Rs.4,000 per day per card from November 19, 2016 onward.

(x) For those who are unable to exchange their Old High Denomination Bank Notes or deposit the same in their bank accounts on or before December 30, 2016, an opportunity will be given to them to do so at specified offices of the RBI on later dates along with necessary documentation as may be specified by the Reserve Bank of India.

(xi) Instruction is also being issued for closure of banks and Government Treasuries, on 9th November, 2016.

(xii) In addition, all ATMs, Cash Deposit Machines, Cash Recycles and any other machine used for receipt and payment of cash will remain shut on 9th and 10th November, 2016.

(xiii) The bank branches and Government Treasuries will function from 10th November, 2016.

(xiv) To avoid inconvenience to the public for the first 72 Hours, Old High Denomination Bank Notes will continue to be accepted at Government Hospitals and pharmacies in these hospitals/Railway ticketing counters/ticket counters of Government/Public Sector Undertaking buses and airline ticketing counters at airports; for purchases at consumer co-operative societies, at milk booths, at crematoria/burial grounds, at petrol/diesel/gas stations of Public Sector Oil Marketing Companies and for arriving and departing passengers at international airports and for foreign tourists to exchange foreign currency at airports up to a specified amount.

The relevant Notifications are available in the website of Finance Ministry (http://finmin.nic.in/).

Which Surgical Strike Modi made this time.
Which notes banned in India Modi’s latest news/statement?
Narendra Modi’s statement : 500 and 1000 notes banned i.e will not work(out from tender). (No use of Rs. 500 and 1000 notes)
Instead new note has launched in India of Rupees 2000 and 500.

NGC cheap is embedded in 2000 note rumors is fake.

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