500 and 1000 rupees notes ban: Prime Minister Narendra Modi went live tonight addressing the big changes he is going to bring in upcoming days for our country. There are so many regular and well known things he announced, but one thing looking odd and created a sensation this night. All of Sudden, Modi Announced that From today mid night, there will be no value for 500 and 1000 Rs. Notes. They are now banned in India. Instead of them, New Rs. 2000 notes released in to serve the people, and the modified 500 Rs notes are also supposed to release very soon. Reasons behind 500 and 1000 rupees notes ban mentioned below.
Modi Says, currently India is a well developed country. As we are going, we are attaining top positions in every sector, even we are in top position for Corruption and Black Money. Prime Minister Narendra Modi wants to put an end for Corruption and Black money. He confesses that, Terror groups are being funded by Fake Currency and Dodgy funds. He wants to control them. Prime Ministers secret researches proved this. Hence Modi took quicker action to put an end for this. Because of this reason Rs. 500 And Rs. 1,000 Notes Being Discontinued.
Rs. 500 And Rs. 1,000 Notes discounted From midnight tonight (Nov 8), For the next 50 days, until 30 Dec 2016,old notes of can be deposited and exchanged at post offices and banks., and For 72 hours, until Nov 11 midnight, all govt hospitals will accept old Rs 500 and Rs 1000 notes. There will be no change in any other form of currency exchange be it cheque, DD, payment via credit or debit cards, online payments, etc. Gmail.com
How to Exchange Old 500 and 1000 Rupees Currency Notes
- Visit your nearby Bank, Post-Office or sub post-office and Deposit your 500 and 1000 rupees notes and get equivalent money in the form of Rs. 2000 notes.
- You can start Exchanging your money from 10th November to 31st December, in any bank, post office or sub post office.
- It is recommended to carry any of your Address proof to Bank or Post Office so that you need to worry regarding anything.
What if we don’t exchange before 31st December?
Still you have time to exchange. You can exchange Rs. 500. Rs 1000 Notes even after 31st December. you can exchange Rs. 500. Rs 1000 Notes by submitting proper proofs before 31st March 2017. It is the final dead line.
Before 31st December 2016 you may not need Proofs to exchange Rs. 500. Rs 1000 Note but after 31st December 2016, it’s mandatory to submit proofs in order to exchange Rs. 500. Rs 1000 Notes.
To implement this, ATM’s will not work on 9th November and also on 10th November in few places!
Hospitals, Petrol Bunks do accept Rs. 500. Rs 1000 Notes for the upcoming 72 hours. Which means in case of emergency you can use Rs. 500. Rs 1000 Note at Hospitals, Petrol bunks till 11th November mid night. After that you cannot use Rs. 500. Rs 1000 Notes.