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Historic announcements on ending corruption and black money by PM; Five hundred and one thousand rupee notes will no longer be legal tender from midnight tonight

News and Press Release - Dated:- 8-11-2016 - In a historical move that will add record strength in the fight against corruption, black money, money laundering, terrorism and financing of terrorists as well as counterfeit notes, the Government of India has decided that the five hundred and one thousand rupee notes will no longer be legal tender from midnight, 8th November 2016. The Government has accepted the recommendations of the RBI to issue Two thousand rupee notes and new notes of Five hundr .....

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notes hoarded by anti-national and anti-social elements will become worthless pieces of paper. The Prime Minister said the steps taken by the Government would strengthen the hands of the common citizens in the fight against corruption, black money and counterfeit notes. Fully sensitive to some of the difficulties the common citizens may face in the coming days, the Prime Minister has announced a series of steps that will help overcome the potential problems. Persons holding old notes of five hun .....

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buses, airline ticket counters, petrol, diesel and gas stations of PSU oil companies, consumer cooperative stores authorized by the state or central government, milk booths authorized by state government and crematoria, burial grounds. Shri Modi emphasized that there is no restriction on any kind of non-cash payments by cheques, demand drafts, debit or credit cards and electronic fund transfer. In his address the Prime Minister shared the insight into how the magnitude of cash in circulation is .....

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