PM Narendra Modi Says Rs. 500 And Rs. 1,000 Notes Being Discontinued

Published: 08-11-2016,11:01:02pm

Prime Minister Narendra Modi, addressing the country tonight, announced that Rs. 500 and Rs. 1000 notes will not be used from midnight onwards. The Rs. 500 and Rs. 1000 notes must be deposited at post offices and banks by the end of December, the PM said, adding the move was essential to fight "the disease of black money.

- From midnight tonight (Nov 8), Rs 500 and Rs 1000 notes won't be legal tender anymore.
- For the next 50 days, until 30 Dec 2016,old notes of can be deposited and exchanged at post offices and banks.
- 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.