Narendra Modi Announced: Rs. 500 and Rs 1000 Notes Not Legal Now

Chandigarh 9 Nov 2016: Indian Prime Minister Narendra Modi on Tuesday announced that the currency notes of Rs. 500 and Rs. 1000 denominations will not be legal tender beginning November 9.

He also added that all banks will remain closed for public work tomorrow.

“You have 50 days (From November 10 to December 30) to deposit notes of Rs. 500 and Rs. 1000 in any bank or post office. Respite for people for the initial 72 hours. The government hospitals will accept old Rs. 500 and Rs. 1000 notes till November 11 midnight,” he added.

Modi said notes of Rs. 2000 and Rs. 500 will be circulated soon.