PM Modi Live address on Scraping Rs 500 and Rs 1000 Bank Notes in India

By | November 8, 2016
(Last Updated On: November 8, 2016)

Watch Prime Minister Narendra Modi’s address to the Nation on Scraping Bank Notes of Rs 500 and Rs 1000

Bank Notes Rs 500 and 1000 Banned In India

  • As announced by Prime Minster Narinder Modi on live telecast on DD News on 08.11.2106 ‘
  • Bank Notes of Rs 500 and Rs 1000 are not valid legal tender w.e.f midnight of 08.11.2016
  • Replace Bank Notes of Rs 500 and Rs 1000 from 10th November to 30th December  2016 ( i.e within 50 days from 09.11.2016) with any bank / Post Office
  • 50 days to deposit Bank Notes of Rs 500 and Rs 1000
  • Banks will remain Close on 09.11.2016
  • However you can use cheques , debit cards, credit cards , demand draft as usual.
  • Every week only Rs 20000 can be withdrawn from Bank ATMs.
  • A Person can not withdraw more than Rs 2000 from Bank ATM’s in a single day.
  • Every Day only Rs 4000 can be deposited into Bank ATM

RBI Conference on Banning Bank Notes of Rs 500 and Rs 1000

  • To stop Counterfeit notes  in circulation and to curb blank money  it has been decided to ban Rs 1000 and Rs 500 Bank Notes
  • Several Operational Guidelines  and press note will be issued by Reserve Bank of India.
  • RBI will be releasing new Rs 500 Bank notes and Rs 2000 Bank Note w.e.f 10.11.2016
  • New Series of Bank note will be known as Mahatama Gandhi Bank Series Note.
  • New Helpline Number of Control Room will be operational from 09.11.2016



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