Shandar Jabardast Zindabaad, Modi - Rs. 500 and Rs.1000 will cease to be legal tender. "These notes are just papers from now" Declared The Prime Minister
This is the sequence followed post ,Prime Minister Narendra Modis sudden address to the nation on Tuesday night.
1.16.5 billion units of Rs 500 notes in circulation, while the number for Rs 1,000 notes was 6.7 billion are now trash , RBI Deputy Governor R. Gandhi said this during a press conference after Prime Minister Narendra Modi announced in a televised address that Rs 500 and Rs 1,000 notes would cease to be legal tender from midnight.
3.RBI will launch new currency notes from November 10, Economic Affairs Secretary Shaktikanta Das said while unveiling the new notes.
4.Both Patel and Das were briefing media after Prime Minister Narendra Modi in a sudden address to the nation on Tuesday, announced that Rs 500 and Rs 1,000 denomination notes are being withdrawn from midnight. Rs 500 and Rs 1,000 denomination notes will become “mere paper”.
5. Banks will keep record of people who will come to exchange cash,” Das .
6. Tomorrow Banks will be closed for withdrawing these notes from counters & ATMs, says Arundhati Bhattacharya
7. We will work round the clock to ensure that customers have a smooth experience says SBI chairman Arundhati Bhattacharya. We will strive to restock ATMs at the earliest and make them operational, says SBI chairman Arundhati Bhattacharya
8 . We have just now been advised of the Govts move to demonetise current series of Rs1000 &500 says Arundhati Bhattacharya
9. There is no restriction of depositing your legal Rs. 500, Rs. 1000 notes for exchange. Any amount, as long as it is legal, can be exchanged.
10. No security breach has been reported. New notes will be Braille compliant, says DEA secretary.
11. Within this period, cheques, debit cards, e-transactions will continue. All electronic transations on account of business firms, companies and individuals will continue in the new two days: DEA secretary.
12. Post offices, bannks to open additional counters and extend working hours to accomodate the public.
13. If it is declared as not legal tender, then any transactions are done with their own risk, says Shaktikanta Das
14. Measure necessary to maintain economic integrity of economy, says Shaktikanta Das as its positive for our economy and will add to the growth of our economy.
15. RBI shows the specimen notes of new Rs. 500 and Rs. 2000 notes.
16. Banks will have video cameras for all trransactions, people must be careful while exchanging legal cash, says Shaktikanta Das
17 . Control rooms formed in RBI in Mumbai - 022 22602201, 22602944 will be operable from tomorrow morning 8 am, says Shaktikanta Das.
18. Fake currencies circulation have grown over the years. We are launching new currency notes with new designs from November 10. Introducing 200 rupee note with Mangalyan logo, says Shaktikanta Das
19. This is a chance for every citizen to take part in the fight against black money and corruption, says the prime minister.
20. Banks will be closed on November 9.
21. There is no restrictions on internet banking, cash, demand draft transactions.
22. Rs 10,000 daily cash withdrawal and Rs 20,000 weekly cash withdrawal limit
23. The ATMs will not function till November 9, and in some places till November 10.
24. People who possess Rs.500 or Rs. 1000 currency notes after December 30 can exchange it at Reserve Bank of India by providing a declaration. This is till March 31, 2017.
25. These notes should be exchanged in banks and head post offices and sub post office within December 30, 2016, by providing a valid identity proof such as Aadhaar, PAN card or voter ID card.
