History has been recreated, 8 30 PM, 08 November 2016 IST. Prime Minister Sri Narendra Modi made a ground breaking announcement that shook the nation and the world alike.
The PM addressed the nation, rolling out demonetization of Rs 500 and Rs 1000 notes effective midnight, as a counter offensive to fight the ongoing black money circulation.
Entire India went into euphoria as PM brought into effect zero legal tendering of the most susceptible notes that are circulated in black. This move changes the game plan for India, where real black money problem will end, not to forget the unmanageable prevailing corruption in the country.
While the existing notes of Rs 500 and Rs 1000 will no longer be valid, new currency notes of Rs 2000 and Rs 500 will be introduced. Citizens holding existing old currency notes can deposit the same in their respective banks and post offices.
Modi’s black money counter offensive is one of the biggest revolutionary measures ever taken for the welfare of the country since the privatization of the nineties. The entire country went into a frenzy, heart fully appreciating PM’s efforts to curb the piling corruption.
This move is not going to be easy on so many lives. A lot is going to happen from today, and many are most likely to be exposed. The RBI made a special press announcement to the media, taking the public through step by step of the new process.
Indian media particularly went berserk, as active discussions went live making a killing on the TRPs. Modi’s announcement will take things to the next level, fighting black money effectively for the very first time.
The citizens who are still stuck in the lurch due to this announcement need not panic. Here are few immediate measures that you can take:
- Exchange the existing notes of Rs 500 and Rs 1000 at the bank showing your ID proof. This can be done between 10th November and 30th December.
- Deposit your old notes at banks and post offices
- Zero restrictions on tools and transactions such as cheques, DD, EFT and card payments
- You can withdraw up to Rs 10,000 per day, and up to Rs 20,000 per week.
Let us join hands with the Government of India to fight black money and corruption. It’s our responsibility.