Rs 500, Rs 1000 notes illegal from tomorrow: PM Narendra Modi

The Prime Minister said that all the 500 and 1,000 denomination notes can be deposited in banks and post offices from November 10 till December 30.

Rs 500 and Rs 1,000 currency notes will cease to be legal tender from midnight, Prime Minister Narendra Modi announced in a television address today.

The Prime Minister said that all the 500 and 1,000 denomination notes can be deposited in banks and post offices from November 10 till December 30.


"The notes of Rs 2000 and Rs 500 will be circulated soon. The RBI has decided to limit the notes with higher value," Modi said.

The PM said the ATMs (Automated Teller Machines) will not work tomorrow and the banks will be closed. The ATMs may not work at some places on Thursday too, he said.

INDIA A BRIGHT SPOT IN GLOBAL ECONOMY: MODI

Modi, in his address to the nation, said India has "registered itself as a bright spot" in the global economy.

"In the past two-and-half-years, with the help of 125 crore people, this nation has registered itself as a bright spot in the global economy," said Modi.

"This is a claim made not by us, but by the International Monetary Fund and the World Bank," he added.


He also said: "This government is for the poor, and will remain a government of the poor."

Source:indiatoday