Turning point in my life

Rs 500 and Rs 1000 Denominations pulled out of circulation

Date: 08.11.2016 | Posted by Sriram Benur

Miami taught me a lesson

Tuesday 8th Nov 2016 Prime Minister Narendra Modi addressed to the nation that currency notes of Rs 500 and Rs 1000 denominations will not be valid for any transactions from November 9 2016. This major sudden move is to fight against the Black Money, fake currency, corruption etc!!

What happens to the existing cash with you?
You need to deposit the notes at post offices or banks, starting from Thursday till December 30 2016.

What next after the Rs 500 and Rs 1000 notes are banned?
New Rs. 500 and Rs. 2,000 notes will be effectively introduced from Thursday 10th Nov from Reserve Bank, with new designs and dimensions.

Specimen of Rs 500

Specimen of Rs 2000

Banks and ATM's would be closed for public business on November 9, and at some places ATM's may be closed on November 10 as well.

PM Modi also announced a number of safeguards steps to ensure that Hospitals, petrol pumps, railway reservation counters, airports, crematoriums and other key services will continue to accept the notes for 72 hours, till the end of November 11.

While there will be some challenges for next couple of days for daily transactions for basic needs, commuting, purchasing etc but looking at the greater benefit and the interest of the nation we all need to support that great move!!

Hats off to our honourable PM Modi and the Reserve Bank Of India in this great move!!

Last Updated:11 Nov 2016

About the author

Founder of ReceiveAnswer.com, Entrepreneur, crazy dreamer and a YouTube coach helping people build there business on YouTube.

Sriram Benur