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After PM Modi's announcement about Rs 500 and Rs 1000, reactions pour in
The PM's announced that Rs 500 and Rs 1000 notes will no longer be valid.
Updated : Nov 09, 2016, 12:25 AM IST
 "Yes Bank ATM queue")
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Taking the nation by surprise, Prime Minister Narendra Modi tonight announced demonetisation of Rs 1000 and Rs 500 notes with effect from midnight, making these notes invalid in a major assault on black money, fake currency and corruption.
In his first televised address to the nation, Modi said people holding notes of Rs 500 and Rs 1000 can deposit the same in their bank and post office accounts from November 10 till December 30. (
In his 40-minute address, first in Hindi and later in English, the Prime Minister said the notes of Rs 500 and Rs 1000 "will not be legal tender from midnight tonight" and these will be "just worthless piece of paper." However, he said that all notes in lower denomination of Rs 100, Rs 50, Rs 20, Rs 10, Rs 5, Rs 2 and Re 1 and all coins will continue to be valid.
He also announced that new notes of Rs 2000 and Rs 500 will be introduced. ATM withdrawals will be restricted to Rs 2000 per day and withdrawals from bank accounts will be limited to Rs 10,000 a day and Rs 20,000 a week.
Banks will remain closed tomorrow and ATMs will also not function tomorrow and day after, Modi said.
He expressed confidence that the staff of banks and post offices will rise to the occasion to introduce the new order within the available time.
He also expressed confidence that political parties, workers, social organisations and the media will go further than the government in making it a success.
Read the complete report here.
The PM had met the services chiefs at his residence earlier this afternoon to review the security measures, particularly in light of recently violations of the ceasefire along the border
#FLASH : PM Narendra Modi to address the nation, shortly
— ANI (@ANI_news) November 8, 2016
This is a breaking story. Check for more updates.
LIVE BLOG
- 08 Nov 2016, 10:20 PM
ICICI bank's CEO & managing director, Chanda Kochhar to ANI: Welcome the announcement made by the PM to derecognize Rs 1000 & Rs 500 notes
— ANI (@ANI_news) November 8, 2016It is perhaps most significant move ever taken to curtail the parallel economy: ICICI bank's CEO & managing director, Chanda Kochhar to ANI
— ANI (@ANI_news) November 8, 2016
- 08 Nov 2016, 10:06 PM
I want to know from PM how my poorest brothers sisters,who've recd their week's hard earned wage in one 500 re note will buy ata,chal, tomo?
— Mamata Banerjee (@MamataOfficial) November 8, 2016Heartless and ill- conceived blow on the common people and the middle class in the fake name of anti-corruption
— Mamata Banerjee (@MamataOfficial) November 8, 2016Rs100 notes not available in banks. Without availability in market how will people,small farmrs,all employees,labourers purchase essentials
— Mamata Banerjee (@MamataOfficial) November 8, 2016 - 08 Nov 2016, 10:01 PM
While Modi ji withdraws Rs 1000 note on one side, he introduces Rs2000 note on the other side?Does it not defeat his own argument?:Surjewala pic.twitter.com/AETr7bFFxO
— ANI (@ANI_news) November 8, 2016 - 08 Nov 2016, 09:43 PM
This fight against black money will continue, decisions like forming SIT were earlier taken for the same :Amit Shah, BJP President pic.twitter.com/wWJlV3D7uE
— ANI (@ANI_news) November 8, 2016 - 08 Nov 2016, 09:16 PM
It's a very good step to combat black money:SIT Chairman Justice (retd) M B Shah to ANI on decision to scrap Rs 500 and Rs 1,000 notes
— ANI (@ANI_news) November 8, 2016 - 08 Nov 2016, 09:15 PM
RBI has been concerned about growing menace of fake Indian currency notes which has been increasing in numbers: RBI Governor Urjit Patel pic.twitter.com/oqgf3tsveQ
— ANI (@ANI_news) November 8, 2016 - 08 Nov 2016, 09:15 PM
Urjit Patel, RBI governor to starts his address.
- 08 Nov 2016, 08:49 PM
#FLASH: Media Briefing by RBI Governor Urjit Patel and Secy. Department of Economic Affairs Shaktikanta Das, at 9:00 PM today
— ANI (@ANI_news) November 8, 2016 - 08 Nov 2016, 08:48 PM
वर्षों की हमारी आर्थिक पारदर्शिता की लड़ाई आज रंग लाई #IndiaFightsCorruption pic.twitter.com/7AEzUxlWUP
— Swami Ramdev (@yogrishiramdev) November 8, 2016 - 08 Nov 2016, 08:36 PM
#FLASH: Media Briefing by RBI Governor Urjit Patel and Secy. Department of Economic Affairs Shaktikanta Das, at 9:00 PM today
— ANI (@ANI_news) November 8, 2016 - 08 Nov 2016, 08:35 PM
Jitna sehyog aapse milega, utna shuddhikaran hoga: PM Narendra to the nation pic.twitter.com/NCT73M1Xs5
— ANI (@ANI_news) November 8, 2016 - 08 Nov 2016, 08:31 PM
Notes of Rs 2000 and Rs 500 will be circulated soon, RBI has decided to limit the notes with higher value: PM Narendra Modi pic.twitter.com/6X9yt1LCsD
— ANI (@ANI_news) November 8, 2016 - 08 Nov 2016, 08:30 PM
There will be no change in any other form of currency exchange be it cheque, DD, payment via credit or debit cards etc: PM Narendra Modi pic.twitter.com/a7NCRN4qjW
— ANI (@ANI_news) November 8, 2016 - 08 Nov 2016, 08:30 PM
In Pics: New Rs 2000 Note that will be issued pic.twitter.com/4NXhNOpxxA
— ANI (@ANI_news) November 8, 2016In Pics: New Rs 500 note that will be issued pic.twitter.com/N51HDChDs3
— ANI (@ANI_news) November 8, 2016 - 08 Nov 2016, 08:25 PM
On November 9 and in some places November 10, ATMs will not work: PM Narendra Modi pic.twitter.com/znibitncZ4
— ANI (@ANI_news) November 8, 2016 - 08 Nov 2016, 08:23 PM
Similarly, ration shops will be allowed to accept old notes. Petrol, CNG gas station, diesel outlets will also be allowed. These shops must keep registers.
- 08 Nov 2016, 08:20 PM
If someone is sick, till Nov 11 midnight can be used at government hospitals. And can buy medicines, against prescription. Similarly railway, ticket and airline encounters can be used. - Narendra Modi
- 08 Nov 2016, 08:18 PM
You have 50 days (From 10 Nov to 30 Dec) to deposit notes of Rs 500 & Rs 1000 in any Bank or Post office: PM Narendra Modi
— ANI (@ANI_news) November 8, 2016 - 08 Nov 2016, 08:17 PM
Not more than Rs 10,000 daily and not more than Rs 20,000 weekly can be removed from accounts.
- 08 Nov 2016, 08:16 PM
From 10 November to 30 December, you can exchange Rs 500 and Rs 1000 notes.
- 08 Nov 2016, 08:15 PM
#FLASH: From Midnight Nov 8, 2016 today, Rs500 and Rs1000 notes are no longer legal tender
— ANI (@ANI_news) November 8, 2016 - 08 Nov 2016, 08:11 PM
From 12 Midnight, Rs 500 and Rs 1000 notes will no longer be valid. – PM Modi
- 08 Nov 2016, 08:10 PM
In the last 2 and a half years we have unearthed Rs 1.25 lakh crore in black money.
- 08 Nov 2016, 08:10 PM
Seema paar ke humare shatru jaali noton ke zariye apna dhandha Bharat mein chalate hein aur ye saalon se chal raha hai: PM Modi pic.twitter.com/wuRM49uZgz
— ANI (@ANI_news) November 8, 2016 - 08 Nov 2016, 08:09 PM
To bring black money, we worked with various nations including America. We exchanged information.
- 08 Nov 2016, 08:08 PM
Where do terrorists get their money? Our enemies use counterfeit notes to hurt us.
- 08 Nov 2016, 08:05 PM
In all our policies, we are dedicated for the upliftment of entire society: PM Narendra Modi pic.twitter.com/xEEh0Q6ERb
— ANI (@ANI_news) November 8, 2016Bhrashtachar ki beemari ko kuch varg vishesh ke logon ne apne swarth ke kaaran faila rakha hai: PM Narendra Modi pic.twitter.com/UVZ1d1JPD1
— ANI (@ANI_news) November 8, 2016 - 08 Nov 2016, 08:01 PM
When you voted for me on 2014, it was believed that the I in BRICS was getting laggard. In two years, we’ve made a difference. We are not making the noise, but it’s coming from IMF and World Bank.
- 08 Nov 2016, 07:58 PM
PM @narendramodi will address the nation at 8 PM today. The address will be first in Hindi followed by English
— PIB India (@PIB_India) November 8, 2016
